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A Inc. is a new tech company. The company retains its earnings for its future growth and plans its annual dividend growth of 1 percent

A Inc. is a new tech company. The company retains its earnings for its future growth and plans its annual dividend growth of 1 percent a year for the next 2 years and then increases the growth rate to 5 percent per year. The company will pay its annual dividend of $2.00 per share. What is the current value of one share of this stock if the required rate of return is 15 percent? a. 19.30 b. 21.21 c. 22.00 d. 20

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