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A toy company expects to pay dividends at the end of each of the next four years of $ 2 . 0 0 , $

A toy company expects to pay dividends at the end of each of the next four years of $2.00, $1.50, $2.00, and $3.50. If growth is then expected to level off at 8 percent, and if you require a 14% rate of return, what is the estimated price of this stock? Round calculations to two places.
A. $67.81
B. $22.49
C. $58.15
D. $31.00
E. none of the above

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