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You are currently thinking about investing in a stock valued at $23per share. The stock recently paid a dividend of $2.60and its dividend is expected

You are currently thinking about investing in a stock valued at $23per share. The stock recently paid a dividend of $2.60and its dividend is expected to grow at a rate of6percent for the foreseeable future. You normally require a return of16percent on stocks of similar risk. Is the stock overpriced, underpriced, or correctly priced?

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