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A Corporation announced of its plans to pay: $3 dividend per share in 1 year, $6...

A Corporation announced of its plans to pay:

$3 dividend per share in 1 year,

$6 dividend per share in 2 years,

$9 dividend per share in 3 years,

after which the dividend will be increasing at a constant annual growth rate of 5 percent. The rate of return for this company is 12%. Calculate the value of one share of its stock.

Part of the calculation will be finding the Present Value of a

  1. ordinary annuity
  2. annuity due
  3. regular perpetuity
  4. growing perpetuity

…with the first dividend being

  1. $3
  2. $6
  3. $9
  4. $91.51
  5. $98.08
  6. $102.50
  7. $109.96
  8. $122.15

(Increase decimal places for any intermediate calculations, from the default 2 to 6 or higher. Only round your final answer to TWO decimal places: for example, 100.23.) The final numerical answer to this problem is:

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