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You purchase a share of common stock in Investment Firm. You expect the stock to pay an annual dividend of $7.75 indefinitely. The market requires

You purchase a share of common stock in Investment Firm. You expect the stock to pay an annual dividend of $7.75 indefinitely. The market requires a return of 13.60%. What is the price of a share of Investment Firm's stock?

Group of answer choices

$8.80

$105.40

$6.82

$56.99

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