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45. An investor has examined Sandman Incorporated stock and has predicted dividends for the next 4 quarters. Dividends will be $0.60 each quarter. He also

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45. An investor has examined Sandman Incorporated stock and has predicted dividends for the next 4 quarters. Dividends will be $0.60 each quarter. He also thinks he can sell a share of Sandman in one year for $15.00. If the required return to own Sandman is 12% APR, what is the intrinsic value of purchasing this stock today? a. $15.06 b. $15.56 c. $16.12 d. $16.60 e. $17.15

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