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The common stock of Dayton Repair is expected to pay a $2.28 per share dividend for each of the next two years. The company will

The common stock of Dayton Repair is expected to pay a $2.28 per share dividend for each of the next two years. The company will pay no dividends after that, and is expected to be worth $52 per share at the end of year 3. What is the current price of the stock using a discount rate of 9%?

$40.15

$44.16

$45.92

$48.60

$52.00

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