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Assume that Bank of America is expected to have dividends of $0.95 next year (i.e. D1) with an expected annual growth of 4% and a

Assume that Bank of America is expected to have dividends of $0.95 next year (i.e. D1) with an expected annual growth of 4% and a required rate of return of 14%. What is the fundamental value of Bank of America's stock? [Hint: Use the constant growth model] A. $9.50 B. $11.30 C. $12.80 D. $14.20

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