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You are researching a technology stock that currently does not pay a dividend but is expected to pay its first annual dividend of $10 in

You are researching a technology stock that currently does not pay a dividend but is expected to pay its first annual dividend of $10 in five years. The dividend is expected to grow at 4% per year thereafter and the stock has a discount rate of 10%. what is the value of stock today?

A. $68.30

B. $113.84

C. $166.67

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