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A stock is expected to pay an annual dividend of $1.05/share by the end of the year, and the dividend payments are expected to stay
A stock is expected to pay an annual dividend of $1.05/share by the end of the year, and the dividend payments are expected to stay at the current growth path of 2.5% per year indefinitely. Investors require a return of 6.5% for this type of stock. What is the price?
Group of answer choices
$26.91
$25.44
$26.25
$21.77
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