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S Corp.'s stock currently sells for $30.75 per share. The dividend is projected to increase at a constant rate of 4.5% per year. What is

S Corp.'s stock currently sells for $30.75 per share. The dividend is projected to increase at a constant rate of 4.5% per year. What is the stock's expected price 5 years from now?

a. $43.73 b. $47.80 c. $40.04 d. $38.32 e. $45.70

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