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Black plc. is expected to pay a $2.00 dividend at the end of this year. If you expect Black's dividend to grow by 5% per

Black plc. is expected to pay a $2.00 dividend at the end of this year. If you expect Black's dividend to grow by 5% per year forever and Black's equity cost of capital is 13%, then the value of a share of Black stock is closest to:

A. $25.00

B. $40.00

C. $15.38

D. $11.10

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