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river stock plans to pay dividends of $1.36, 1.15, $1.35, and $1.62 at the end of the next four years, respectively. After that, the company
river stock plans to pay dividends of $1.36, 1.15, $1.35, and $1.62 at the end of the next four years, respectively. After that, the company will be sold and shareholders are expected to receive $82.40 per share in year 6 when the sale should be finalized. If the required return is 11.4 percent, what is the current value of one share of this sock?
$46.50
$51.08
$47.29
$47.71
$51.87
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