Sonia Corporation expects to pay a dividend of $1.00 per share one year from today, a dividend of $2.00 per share two years from today and a dividend of $3.00 per share three years from today. In the years following year 3, dividends per share are expected to grow at a constant annual rate of 6%. If investors require a return of 12% to invest in this company, what is a share of Sonia worth today?
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