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A stock is expected to pay a dividend of $0.85 per share at the end of the year. The required rate of return is 12%,

A stock is expected to pay a dividend of $0.85 per share at the end of the year. The required rate of return is 12%, and the expected constant growth rate is 5%. What is the current stock price?

$12.14

$12.00

$12.75

$11.43

$8.75

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