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22. The XFX Company's last dividend was $1.50. The dividend growth rate is expected to be constant at 15% for 3 years, after which dividends

22. The XFX Company's last dividend was $1.50. The dividend growth rate is expected to be constant at 15% for 3 years, after which dividends are expected to grow at a rate of 6% forever. If Nikko's required return (Rs) is 11%, what is the company's current stock price?

A. $36.69

B. $37.82

C. $38.99

D. $40.21

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