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Jute Corporations common stock has a beta of 1.1. The risk-free rate is 3%, and the market return is 7%. The company announces that starting

Jute Corporations common stock has a beta of 1.1. The risk-free rate is 3%, and the market return is 7%. The company announces that starting next year it will pay a dividend of $3 forever. What is the estimated share price now?

Select one:

a. $40.5b. $30.5c. $39d. $100

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