Growing Inc Is A Firm That Is Experiencing Rapid Growth The Firm Yesterday Paid

Growing, Inc. is a firm that is experiencing rapid growth. The firm yesterday paid a dividend of $6.80. You believe that dividends will grow at a rate of 20% per year for years 1, 2 and 3, and then at a rate of 9.0% per year thereafter. If you expect an annual rate of return of 23.0% on this investment, what is the most you would pay for the stock now?

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