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Gruber Corp. pays a constant $8.50 dividend on its stock. The company will maintain this dividend for the next 11 years and will then cease

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Gruber Corp. pays a constant $8.50 dividend on its stock. The company will maintain this dividend for the next 11 years and will then cease paying dividends forever. The required return on this stock is 9.5 percent. What is the current share price? Hint: This is easier to solve than it seems. Think of it as an 11-year annuity that you have to discount to present value

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