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Carpenter Plumbing is experiencing growth so its management team has decided to begin paying dividends starting next year. The first dividend will be $ .

Carpenter Plumbing is experiencing growth so its management team has decided to begin paying dividends starting next year. The first dividend will be $.75 a share with annual increases of 2 percent in the dividend amount. The discount rate is 5 percent. What will the value of this stock be four years from now?
Multiple Choice
$25.95
$26.07
$27.06
$27.63
$28.02
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