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What is the current price of a utility company's stock if the current dividend is $0.20, the expected constant growth rate in dividends is 2%

What is the current price of a utility company's stock if the current dividend is $0.20, the expected constant growth rate in dividends is 2% and the required return is 8%?

A. $2.00
B. $3.40
C. $3.20
D. $2.20

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