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ily Co. paid a dividend of $5.25 on its common stock this year. The company's dividends are expected to grow at a constant rate of
ily Co. paid a dividend of $5.25 on its common stock this year. The company's dividends are expected to grow at a constant rate of 8.5% indefinitely. If the required rate of return on this stock is 15.5%, compute the intrinsic value per share of Lily Co. stock. $56.23 $43.90 $75 $81.38
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