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Francis Inc.'s stock has a required rate of return of 10%, and it sells for $91.25 per share. The dividend is expected to grow at

Francis Inc.'s stock has a required rate of return of 10%, and it sells for $91.25 per share. The dividend is expected to grow at a constant rate of 6.00% per year. What is the expected year-end dividend, D₁?

		a. $3.14
		b. $3.72
		c. $3.94
		d. $3.65
		e. $3.79

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