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55 The dividend that was just paid by a company was $1.15 per share. It is estimated that the company's dividend will grow at a

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The dividend that was just paid by a company was $1.15 per share. It is estimated that the company's dividend will grow at a rate of 30 percent per year for Years 1, 2, and 3 , then at a constant rate of 11 percent per year thereafter. If the required rate of return for this company's stock is 15 percent, what would you estimate is the stock's current price? A. $37.91 B. $51.68 C. $45.25 D. $49.68 E. $50.53

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