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A stock you are evaluating paid annual dividend of $1.5. Dividends have grown at a constant rate of 2.5 percent over the last 15 years

A stock you are evaluating paid annual dividend of $1.5. Dividends have grown at a constant rate of 2.5 percent over the last 15 years and you expect to continue.

a. if the required rate of return on the stock is 15 percent, what is the fair present value?

b. what if the required rate of return is 10 persent?

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