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Burnett Corp. pays a constant $12 dividend on its stock. The company will maintain this dividend for the next 9 years and will then cease

Burnett Corp. pays a constant $12 dividend on its stock. The company will maintain this dividend for the next 9 years and will then cease paying dividends forever.

If the required return on this stock is 8 percent, what is the current share price?

Multiple Choice

$73.46
$80.96
$108.00
$74.96
$78.71

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