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Compute the value of Terra Corp. 5 years from today if the firm is expected to pay a dividend of $1.80 per share next year.

Compute the value of Terra Corp. 5 years from today if the firm is expected to pay a dividend of $1.80 per share next year. The required return is 16 percent and the growth rate is 4 percent.

Group of answer choices

$15.00

$15.60

$16.80

$18.25

$18.98

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