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A stock is expected to pay the following dividends over the next four years: $3.00, $3.05, $3.15, and $3.25. The investor expects to sell the

A stock is expected to pay the following dividends over the next four years: $3.00, $3.05, $3.15, and $3.25. The investor expects to sell the stock for $45 in four years. If the investor wants to earn 11%, what is she willing to pay today?

a. $37.84

b. $29.64

c. $32.55

d. $39.26

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