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8. You plan to buy common stock and hold it for one year. You expect to receive both $1.50 in dividends and $26 from the

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8. You plan to buy common stock and hold it for one year. You expect to receive both $1.50 in dividends and $26 from the sale of stock at the end of the year. If you wanted to earn a 15 percent return, what is the maximum price you would pay for the stock today? (1994 CFA Exam)* 2 a. $22.61 b. $23.91 c. $24.50 (1. $27.50

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