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Bobby Hull wants to invest in a stock that pays ( $ 4.25 ) annually. At then end of the six years he hopes to

Bobby Hull wants to invest in a stock that pays \\( \\$ 4.25 \\) annually. At then end of the six years he hopes to sell the stock for \\( \\$ 22.50 \\). If he wants to earn \\( 12 \\% \\) on this investment, what is a fair price for this stock if he buys it today? a. About \\( \\$ 14.25 \\) b. About \\( \\$ 12.45 \\) c. About \\( \\$ 25.79 \\) d. About \\( \\$ 28.87 \\) e. About \\( \\$ 26.15 \\)

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