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9. NC Enterprise recently gave out a $2.00 annual dividend. This firm has showed steady 7% annual growth in income and dividends and is expected

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9. NC Enterprise recently gave out a $2.00 annual dividend. This firm has showed steady 7% annual growth in income and dividends and is expected to continue so indefinitely. The market requires a return of 12% on common stock of this type. According to the DDM (discounted dividend model), what should be the fair market value of one share of NC common stock

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