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5. You own a stock which will pay a dividend of $60 one year from now. Subsequent dividends will increase by 1% per year. If
5. You own a stock which will pay a dividend of $60 one year from now. Subsequent dividends will increase by 1% per year. If the current annual discount rate is 12%, find the present value of this stock. Select one: a. $640 b. $590 c. $470 d. $820 e.$545.
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