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9. A share of common stock has just paid a dividend of $9. If the expected long-run growth rate for this stock is 8 %,

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9. A share of common stock has just paid a dividend of $9. If the expected long-run growth rate for this stock is 8 %, and if investors require a 20% rate of return, what is the price of the stock? (10p) a. $57.50 b. $62.25 c. $67.70 d. $75.00 e. $78.92

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