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The XYZ company just paid a dividend of $3.20 per share on their stock. The dividend is expected to grow at a constant rate of
The XYZ company just paid a dividend of $3.20 per share on their stock. The dividend is expected to grow at a constant rate of 4% per year indefinitely. If investors require a return 10.5% on the stock, what is the current stock price?
a. $49.23
b. $51.20
c. $33.60
d. $80
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