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The value of a stock is equal to the present value of all expected future dividends. is equal to the present value of the stock

The value of a stock

is equal to the present value of all expected future dividends.

is equal to the present value of the stock price at the end of the investor's horizon.

is equal to the present value of the expected dividends over the investor's horizon.

is equal to the present value of all expected future earnings.

is equal to the book value of equity divided by the number of shares outstanding.

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