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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 r_s = 10.5%, and the expected constant growth rate is g = 9%. What is the stock's current price?

Select the correct answer.

a. $51.02

b. $50.00

c. $47.96

d. $48.98

e. $52.04

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