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National Advertising just paid a dividend of D0 = $0.75 per share, and that dividend is expected to grow at a constant rate of 6.50%
National Advertising just paid a dividend of D0 = $0.75 per share, and that dividend is expected to grow at a constant rate of 6.50% per year in the future. The company's beta is 1, the required return on the market is 10.50%, and the risk-free rate is 4.50%. What is the company's current stock price? Select the correct answer.
a. $19.97
b. $20.95
c. $21.93
d. $20.46
e. $21.44
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