Main Street Antiques is planning on paying an annual dividend of $2.20 per share next year.The company is slowly downsizing and is decreasing its dividend by 3 percent annually.What is the current value of this stock at a discount rate of 8 percent?
A) $18.86
B) $19.12
C) $19.78
D) $20.00
E) $20.57
Correct Answer:
Verified
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