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A firm projects a growth rate of 5%. Its dividends next period will be $2.4 per share. Investors expect a 12% rate of return on

A firm projects a growth rate of 5%. Its dividends next period will be $2.4 per share. Investors expect a 12% rate of return on the stock. What price do you expect the firms shares to sell for in 4 years?

A. $53.96

B. $44.95

C. $41.68

D. $39.76

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