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A stock pays a dividend of $500 at the end of the first year, with each subsequent annual dividend being 4% greater than the preceding

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A stock pays a dividend of $500 at the end of the first year, with each subsequent annual dividend being 4% greater than the preceding one. Find the price of this stock using an annual effective yield rate of 9%. Possible Answers A 9800 B 9900 10,000 D 10.100 E 10,200

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