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Apple Inc. (AAPL) has a beta of 1.25 and pays an annual dividend of $6. The risk-free rate is currently 5% and the market risk

Apple Inc. (AAPL) has a beta of 1.25 and pays an annual dividend of $6. The risk-free rate is currently 5% and the market risk premium is 12%. What is the intrinsic value of Apple Inc.?

$30

$40

$20

$10

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