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You own a common stock that just paid an annual dividend of $6. The firm expects the dividends to grow at a 4% constant rate.
You own a common stock that just paid an annual dividend of $6. The firm expects the dividends to grow at a 4% constant rate. If the required rate of return for the stock is 10%, then what is the price that you should be able to sell the stock for now?
$60
$104
$100
$150
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