The Xerox Company last paid their dividend of $2.5 to the stockholders. For the first 4 years the dividend will grow at a 6% and then the rate of growth changes to 4% percent per year for the next 3 years .After that the dividend will grow at 3% for the foreseeable future. The required rate of return is 8 percent. If you want to buy the stock maximum how much you should pay for it?
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