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Next year Gordons Gear Manufacturing (GGM) will pay a $4 per share dividend. Dividends are expected to grow at 4 percent every year. If you

Next year Gordons Gear Manufacturing (GGM) will pay a $4 per share dividend. Dividends are expected to grow at 4 percent every year. If you require a return of 13 percent on GGM, what would you pay for GGM stock?

$46.22

$57.14

$40.00

$33.33

$44.44

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