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I need to know how to solve this question 61. www company currently (t O) earns $4.00 per share, and has a payout of 40

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61. www company currently (t O) earns $4.00 per share, and has a payout of 40 percent. Dividends are expected to grow at a constant rate of 4 percent per year. The required rate of return is 15 percent. The price of this stock would be estimated at a. $57.14 b. $22.86 $15.13. d. $24.69

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