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Metallica Bearings, Incorporated, is a young start-up company. No dividends will be paid on the stock over the next 14 years because the firm needs

image text in transcribed Metallica Bearings, Incorporated, is a young start-up company. No dividends will be paid on the stock over the next 14 years because the firm needs to plow back its earnings to fuel growth. The company will pay a dividend of $8 per share 15 years from today and will increase the dividend by 5 percent per year thereafter. If the required return on this stock is 11 percent, what is the current share price? Multiple Choice $27.87 $31.86 $30.93 $32.48 $29.39

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