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13) Danforth Corp has a current stock price of $117.15 and is expected to pay a dividend of $4.50 in one year. If Danforth's equity

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13) Danforth Corp has a current stock price of $117.15 and is expected to pay a dividend of $4.50 in one year. If Danforth's equity cost of capital is 10%, what price would Danforth's stock be expected to sell for immediately after it pays the dividend? (2 marks)

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