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4pass Inc. just paid an annual dividend of $1.21. The company follows a dividend policy that raises dividends annually at a rate of 4% (
4pass Inc. just paid an annual dividend of $1.21. The company follows a dividend policy that raises dividends annually at a rate of 4% ( and expects this rate to go forever). The required rate of return is 12%.
What is today's stock price?
a) 15.13
b) 27.03
c) 15.73
d) 10.08
e) 12.94
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