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A stock just paid an annual dividend of $0.70. The dividend is expected to increase by 10 percent per year for the next three years

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A stock just paid an annual dividend of $0.70. The dividend is expected to increase by 10 percent per year for the next three years and by 2 percent per year thereafter. What is the current price at a discount rate of 9 percent? Click the answer you think is right. $12.62 $11.58 $13.47 $11.92

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