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Hitts, Inc. stock is expected to pay a fifty-cent dividend next year. It is expected to grow at a compound rate of 8 percent in

image text in transcribed Hitts, Inc. stock is expected to pay a fifty-cent dividend next year. It is expected to grow at a compound rate of 8 percent in the long run. If the market requires a 9 percent return, the stock should be currently fluctuating around what price? A. $5 B. $25 C. $50 D. $58 E. $62

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