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11) PLT Company just paid a dividend of $2.00. The dividend is expected to grow by 9% this year, 7% in year two and 6%
11) PLT Company just paid a dividend of $2.00. The dividend is expected to grow by 9% this year, 7% in year two and 6% in year three. Then, beginning in year four, the dividend will begin growing at a constant rate of 4%. With a required return of 14%, what is the stock worth today?
A) $24.62
B) $24.62
C) $25.14
D) $28.89
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