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Tattletale News Corp. has been growing at a rate of 20% per year, and you expect...

Tattletale News Corp. has been growing at a rate of 20% per year, and you expect this growth rate in earnings and dividends to continue for another 3 years. a. If the last dividend paid was $9, what will the next dividend be? (Do not round intermediate calculations. Round your answer to 2 decimal places.) b. If the discount rate is 19% and the steady growth rate after 3 years is 3%, what should the stock price be today? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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Year 1 2 Dividend $10.80 $12.96 $15.55 $100.12 pv @ 19% 0.8403 0.7062 0.5934 0.5934 Present value $9.08 $9.15 $9.23 $59.41 $8

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