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Consider a stock that is expected to pay a $1 per share dividend in 1 year. The share price in 1 year (right after the

Consider a stock that is expected to pay a $1 per share dividend in 1 year. The share price in 1 year (right after the dividend is paid) is expected to be $40. The required return on the stock is 12%. Find the share price today.

$36.61

$34.41

$38.85

$33.58

$31.22

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