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please work by hand! 16. A company just paid a $5 dividend and expects its next two dividends to be a dollar higher each year.

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16. A company just paid a $5 dividend and expects its next two dividends to be a dollar higher each year. After the second dividend, dividend are assumed to grow forever at 3%. If the required rate of return is 10%, what is the value of the stock today? A. $84.29 B. $87.28 C. $92.06 D. $96.36 E. $101.36

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