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Use Formula 7–5 to find the value of all future dividends, beginning with the fourth year’s dividend. The value you find will be at the end of the third year (the equivalent of the beginning of the fourth year). e. Discount back the value found in part d for three years at 13 percent. f. Observe that in part b you determined the percent value of dividends for the first three years and, in ... ................
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