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You are considering purchasing stock in Canyon Echo. You feel the company will increase its dividend at 4.2 percent indefinitely. The company just paid a

You are considering purchasing stock in Canyon Echo. You feel the company will increase its dividend at 4.2 percent indefinitely. The company just paid a dividend of $3.23 and you feel that the required return on the stock is 10.4 percent. What is the price per share of the company's stock?

A. $52.10

B. $31.06

C. $54.28

D. $48.86

E. $51.57

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