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Darby Heating and Air just paid an annual dividend of $8.85 per share. Future dividends are expected to increase by 2.0 percent annually. What is

Darby Heating and Air just paid an annual dividend of $8.85 per share. Future dividends are expected to increase by 2.0 percent annually. What is one share of this stock worth at a required rate of return of 11.5 percent?

a. $76.96

b. $93.16

c. $84.18

d. $60.42

e. $95.02

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