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3. Ponzi Corp. pays a constant $5 annual dividend on its stock. The company will maintain this dividend for the next 9 years. The stock

image text in transcribed 3. Ponzi Corp. pays a constant $5 annual dividend on its stock. The company will maintain this dividend for the next 9 years. The stock price in 10 years is going to be equal to $100. If the required return on this stock is 8 percent, what is the current share price? ( 5 points)

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