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Joe's Fruit Company is expanding into a new geographic area. Management expects the new market to fuel growth of 22% for three years. After that

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Joe's Fruit Company is expanding into a new geographic area. Management expects the new market to fuel growth of 22% for three years. After that normal growth of 5% will resume. Joe's Fruit's most recent annual dividend was $1.35. Other fruit companies have been returning about 9% lately. How much should a share of Joe's Fruit stock be worth? $54.79 $40.73 $64.35 O $44.91

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