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A firm expects to pay an annual dividend of $ 2 . 8 4 per share on its stock one year from today. Based on

A firm expects to pay an annual dividend of $2.84 per share on its stock one year from today. Based on the historical dividend payment pattern, an analyst assumed the dividend will grow at a constant rate of 3.5 percent per year indefinitely. The appropriate discount rate for this stock is 16.61 percent. What is the value of one share of this stock today?
$21.66
$17.70
$22.42
$81.14
$17.10
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