Charles Berkeley,Inc.just paid an annual dividend of $3.60 per share on its stock.The dividends are expected to grow at a constant rate of 4.5 percent per year,indefinitely.If investors require an 11 percent return on this stock,what will the price be in 12 years?
A) $91.71
B) $93.62
C) $95.75
D) $98.15
E) $102.57
Correct Answer:
Verified
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