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Valera Corporations next annual dividend is forecasted to be $5.50 and grow thereafter at 7% per year. What is the value of one share of

Valera Corporations next annual dividend is forecasted to be $5.50 and grow thereafter at 7% per year. What is the value of one share of Valera Corporations common stock to an investor who requires a 15% rate of return?

a.
$ 36.67

b.
$ 5.50

c.
$ 78.57

d.
$ 68.75

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