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Calculation of Supernormal Growth Dividend.

Janicek Corp. is experiencing rapid growth. Dividends are expected to grow at 35 percent per year during next 3 years, 21 percent over the following year, and then 7 percent per year indefinitely. The required return of this stock is 15 percent, and the stock currently sells for $70 per share. The projected dividend for the coming year is $_____. (Round your answer to 2 decimal places, e.g. 32.16)

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