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A share of common stock just paid a dividend of $3.00. If the expected long-run growth rate for this stock is 5.4%, and if investors'

A share of common stock just paid a dividend of $3.00. If the expected long-run growth rate for this stock is 5.4%, and if investors' required rate of return is 15.3%, then what is the stock price?

a. $20.67

b. $34.94

c. $30.30

d. $15.28

e. $31.94

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