TMS just paid an annual dividend of $2.84 per share on its stock.The dividends are expected to grow at a constant rate of 1.85 percent per year.If investors require a rate of return of 10.4 percent, what will be the stock price be in Year 11?
A) $41.71
B) $40.64
C) $35.75
D) $41.39
E) $42.57
Correct Answer:
Verified
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