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You are considering acquiring a common stock that you would like to hold for one year. You expect to receive both $0.75 in dividends and

You are considering acquiring a common stock that you would like to hold for one year. You expect to receive both $0.75 in dividends and $16 from the sale of the stock at the end of the year. The maximum price you would pay for the stock today is _____ if you wanted to earn a 12% return.

options:

$26.52

$14.96

$27.50

$23.91

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