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A company just paid out an annual dividend of $2. If the annual dividend is maintained at the same level for the next 10 years,

A company just paid out an annual dividend of $2. If the annual dividend is maintained at the same level for the next 10 years, and the firm will never pay any more dividends, what should be the price of a share today? Assume that the required rate of return for the stock is 15%.

Group of answer choices

$20.00

$10.04

Cannot be determined

$11.54

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