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2) Stock B currently pays a dividend of $15.00 per year. The dividend is expected to grow 3% per year. Assuming a required rate of

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2) Stock B currently pays a dividend of $15.00 per year. The dividend is expected to grow 3% per year. Assuming a required rate of return of 8%, what is the present value of the stock? Also calculate the present value if the annual dividend growth rate is 6%

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