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A stock is expected to pay a dividend of $0.75 at the end of the year. The required rate of return is r s =

A stock is expected to pay a dividend of $0.75 at the end of the year. The required rate of return is rs = 10.5%, and the expected constant growth rate is g = 3%. What is the stock's current price?

Select the correct answer.

a. $10.80
b. $11.60
c. $11.20
d. $10.00
e. $10.40

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