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Next year Tom Traders will pay a dividend of $3.25 It expects to increase its dividend by $0.50 in each of the following two years.

Next year Tom Traders will pay a dividend of $3.25 It expects to increase its dividend by $0.50 in each of the following two years. If their required rate of return is 10 percent, what is the present value of their dividends over the next three years?
	A)	$9.25
	B)	$8.92
	C)	$8.10
	D)	$10.14

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