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Drake Building Co. paid a dividend yesterday of $5 per share. The dividend is expected to grow at a constant rate of 8% per year.

Drake Building Co. paid a dividend yesterday of $5 per share. The dividend is expected to grow at a constant rate of 8% per year. The investor's required return for the stock is 28.38%, what is the intrinsic value of the stock?

A. $26.62

B. None of these

C. $29

D. $14.84

E. $26.50

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