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Patty Obriens Concrete Company just paid an annual dividend of $2 per share and the next annual dividend will be paid in a year. Investors
Patty Obriens Concrete Company just paid an annual dividend of $2 per share and the next annual dividend will be paid in a year. Investors expect dividends to grow by 5% per year, permanently, and the required return on the stock is 10%. What should the stock price be today? Round your final answer to the nearest cent.
$41.33 | ||
$42.50 | ||
$41.67 | ||
$42.08 |
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