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You buy a stock from which you expect to receive an annual dividend of $3.00 for each of the seven years that you plan on
You buy a stock from which you expect to receive an annual dividend of $3.00 for each of the seven years that you plan on holding it. At the end of the year seven you expect to be able to sell the stock for $75. What is the most that you should be willing to pay today for a share of this company if you want to earn a return of at least 8% ? A. $79.37 B. $59.38 C. $68.06 D. $88.89
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