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Gator Aircraft, Inc. just paid a dividend of $3 per share, which it expects to grow at 5 percent per year forever. If the expected

Gator Aircraft, Inc. just paid a dividend of $3 per share, which it expects to grow at 5 percent per year forever. If the expected return on the stock is 20%, what is the price of a share of Gator stock today?

  1. $20
  2. $21
  3. $22
  4. $18

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