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If your required rate of return is 9 what is the most that

Apple Inc. just paid a dividend of $2.28 a share. Dividends are expected to grow at a rate of 12% a year for the next three years and then at a rate of 3.5% thereafter. If your required rate of return is 9%, what is the most that you should be willing to pay for a share of Apple stock today?

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Finance Basics: If your required rate of return is 9 what is the most that

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