Ewert Enterprises' stock currently sells for $30.50 per share. The stock's dividend is projected to increase at a constant rate of 4.50% per year. The required rate of return on the stock, rs, is 10.00%. What is Ewert's expected price 3 years from today?
A) $31.61
B) $32.43
C) $33.26
D) $34.81
Correct Answer:
Verified
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