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A stock just paid a $1.2 dividend and has a constant dividend growth rate of 5%. If the market requires a return of 13% on

A stock just paid a $1.2 dividend and has a constant dividend growth rate of 5%. If the market requires a return of 13% on assets of this risk, how much should the stock be selling for in six years?

Multiple Choice

$21.11
$19.23
$15.75
$22.16

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