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A company just announced its next annual dividend will be $ 3 . 1 0 a share with future dividends increasing by 1 . 8

A company just announced its next annual dividend will be $3.10 a share with future dividends increasing by 1.8 percent annually. How much will one share of this stock be worth five years from now if the required return is 16 percent?
$25.41
$22.33
$23.87
$23.10
$24.64

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