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You want to invest in a stock that pays 30 annual cash dividend for the next 12 years. At the end of the 12 years,
You want to invest in a stock that pays 30 annual cash dividend for the next 12 years. At the end of the 12 years, you will the stock for $60 . If you want to earn 12% on this investment , what is a fair price for this stock, today?
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