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Jenny is interested in buying the stock of Fintech, Inc., which is increasing its dividends at a constant rate of 3 percent. Last year the

Jenny is interested in buying the stock of Fintech, Inc., which is increasing its dividends at a constant rate of 3 percent. Last year the firm paid a dividend of $2.65. The required rate of return is 16 percent. What should be the price of the stock in year 5?

$20.38

none of these

$24.34

$21.7

$20.66

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