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Suppose we are interested in the price of a stock in five years, P5. We just paid a dividend of $2.20 and the growth rate

Suppose we are interested in the price of a stock in five years, P5. We just paid a dividend of $2.20 and the growth rate is 4%. The required return is 12%. What is the price of the stock in five years?

a) 38.20

b) 32.70

c) 24.00

d) 34.80

e) 17.40

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