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Shasta Co. is projected to pay a dividend of $1.65 on its common stock later this year. This company's dividends are expected to grow at
Shasta Co. is projected to pay a dividend of $1.65 on its common stock later this year. This company's dividends are expected to grow at a constant rate of 3% indefinitely. If the required rate of return on this stock is 11%, compute the current value per share of Shasta stock.
$20.63
$15.00
$55.00
$21.24
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