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23) A $1.25 dividend was just paid by Pikes Company. Investors' required rate of return for Bordeaux Company is 11.0%. Dividends are expected to grow

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23) A $1.25 dividend was just paid by Pikes Company. Investors' required rate of return for Bordeaux Company is 11.0%. Dividends are expected to grow at 2.5% per year. What do you estimate the share price of Pikes Company's stock to be? $11.65/ share $14.71/ share $15.07/ share $13,36/ share

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