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Nogrowth Inc. presently pays an annual dividend of $1.50 per share and it is expected that these dividend payments will continue indefinitely. If Nogrowth's equity

Nogrowth Inc. presently pays an annual dividend of $1.50 per share and it is expected that these dividend payments will continue indefinitely. If Nogrowth's equity cost of capital is 12%, then the value of a share of Nogrowths' stock is closest to

A)$12.50

B)$15.00

C)$14.00

D)$10.00

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