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An issue of common stock's most recent dividend is $4.05. Its growth rate is 4.0%. What is its price if the market's rate of return

An issue of common stock's most recent dividend is $4.05. Its growth rate is 4.0%. What is its price if the market's rate of return is 8.8%?

Note: Do not round intermediate calculations. Round your answer to 2 decimal places.

Multiple Choice

$89.37

$87.75

$94.37

$42.19

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