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Citrus Support is a young start-up company that is currently retaining all of its earnings. The company plans to pay a $2 per share dividend

Citrus Support is a young start-up company that is currently retaining all of its earnings. The company plans to pay a $2 per share dividend in Year 7 and increase that dividend by 2.2 percent per year thereafter. What is the current share price if the required return is 16 percent?

Multiple Choice

$6.62

$8.59

$14.29

$11.78

$5.95

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