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7. A Common Stock will pay a Cash Dividend of $4 next year, which is expected to growth at 4% a year starting in Year

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7. A Common Stock will pay a Cash Dividend of $4 next year, which is expected to growth at 4% a year starting in Year 1. If the Discount Rate is 14%, what is the PV of the Stream of Dividend Payments? a. $18.91 b. $40 c. $28.57 d. $20.77 e. $22.22

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