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Problem 8-15 (similar to) Question Help (Common stock valuation) Sanford common stock is expected to pay $3.25 in dividends next year, and the market price

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Problem 8-15 (similar to) Question Help (Common stock valuation) Sanford common stock is expected to pay $3.25 in dividends next year, and the market price is projected to be $51.25 per share by year-end. I investors require a rate of retum of 11 percent, what is the current value of the stock? The current value of the stock is $ . (Round to the nearest cent.)

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