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You want to invest in a stock that pays $6.00 annual cash dividends for the next five years. At the end of the five years,
You want to invest in a stock that pays $6.00 annual cash dividends for the next five years. At the end of the five years, you will sell the stock for $90.00. If you want to earn 10% on this investment, what is a fair price for this stock if you buy it today?
Question options:
| $49.25 |
| $67.14 |
| $78.63 |
| $54.29 |
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