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Boots Roofing just paid its annual dividend of $.90 a share. The firm recently announced that all future dividends will be increased by 3% annually.

Boots Roofing just paid its annual dividend of $.90 a share. The firm recently announced that all future dividends will be increased by 3% annually. What is one share of this stock worth to you if you require a 12% rate of return?

A. $10.30

B. $10.35

C. $10.59

D. $10.78

E. $10.96

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