A stock just paid an annual dividend of $0.80 a share, and the dividend is expected to grow at 8 percent for 2 years and 3 percent thereafter. The required return is 9 percent. What is the stock price?
A) $15.36
B) $15.64
C) $15.97
D) $15.06
E) $15.21
Correct Answer:
Verified
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