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The common stock of Water Town Mills pays a constant annual dividend of $2.25 a share. What is one share of this stock worth today

The common stock of Water Town Mills pays a constant annual dividend of $2.25 a share. What is one share of this stock worth today if the discount rate is 8.6 percent?

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$26.16

$29.45

$19.04

$21.23

$31.88

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