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You buy a stock for which you expect to receive an annual dividend of $2.10 for the fifteen years that you plan on holding it.

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You buy a stock for which you expect to receive an annual dividend of $2.10 for the fifteen years that you plan on holding it. After 15 years, you expect to sell the stock for $32.25. What is the price of the stock today if you want a 10% return? 1) 15.97 O 2) 7.72 3) 23.69 4) 31.41

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