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Use the following information for a particular stock: g = 1 5 % for 3 years before achieving long - term growth of 5 %

Use the following information for a particular stock: g=15% for 3 years before achieving
long-term growth of 5%; its required rate of return is 11%; its last dividend was $2.
What is the stocks terminal price (at t =3)?
a. $58.95
b. $64.82
c. $53.23
d. $68.77

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