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Raha INC paid an annual divident of $2.75 yesterday. If future dividents are expected to grow at a rate of 5%, and the required rate

Raha INC paid an annual divident of $2.75 yesterday. If future dividents are expected to grow at a rate of 5%, and the required rate of return on this stock is 16 percent, the fair price of this stock today is?

17.19

26.25

None of the above

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