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Pepsi company just paid a dividend of $ 3 . 1 2 per share. The company expects the coming year to be very profitable, and

Pepsi company just paid a dividend of $3.12 per share. The company expects the coming year to be very profitable, and its dividend will grow by 16.00% over the next year. After the next year, though, Pepsi's dividend is expected to grow at a constant rate of 3.20% per year. Pepsi's required return is 10.24%. What is the intrinsic value of a Pepsi's stock today?
a. $60.41
b. $44.32
c. $48.13
d. $53.05
e. $51.41
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