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A company just paid a dividend of $ 1 per share . It is expected to increase its dividend by 5 % per year .

A company just paid a dividend of $ 1 per share . It is expected to increase its dividend by 5 % per year . If the shareholders ' required rate of return is 10% how much is the price expected to be in year 5 ?

$ 29.50

$ 23.09

$ 35.13

$ 26.80

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