9. MicroTron is a new entrant into a rapidly growing industry. The firm is plans to increase its annual dividend by 25 percent a year for the next three years and then decreasing the growth rate to 6 percent per year. The company just paid an annual dividend of $0.80 per share. What is the current market price of one share of this stock if the required rate of return is 17 percent? A. $12.14 B. $12.94 C. $11.17 D. $14.27 E. $15.06

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