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3. Apocalyptica Corp. pays a constant $18 dividend on its stock. The company will maintain this dividend for the next 9 years and will then

Apocalyptica Corp. pays a constant $18 dividend on its stock. The company will maintain this dividend for the next 9 years and will then cease paying dividends forever.

Required:

If the required return on this stock is 11 percent, what is the current share price?

$104.65

$97.67

$99.67

$162.00

$110.63

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