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NONCONSTANT GROWTH STOCK VALUATION Melbourne enterprise recently paid a dividend of $1.50. It expects to have

nonconstant growth of 18% for 2 years followed by a constant rate of 5% thereafter. The firm's required return is 12% a. How far is the terminal, or horizon date? b. What is the firm's horizon, or terminal value? c. What is the firm's intrinsic today?

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