J. Corp is experiencing rapid growth. Dividends are expected to grow at 30% per year during the next

J. Corp is experiencing rapid growth. Dividends are expected to grow at 30% per year during the next 3 years, 18% over the following year and then a constant 8% thereafter. If the required return on this stock is 11% and the stock currently sells for $65 per share, what is the projected dividend for the coming year?

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