M&D Enterprises paid its first annual dividend yesterday in the amount of $.28 a share.The company plans to double each annual dividend payment for the next three years.After that time,it plans to pay a constant $2.25 per share indefinitely.What is one share of this stock worth today if the market rate of return on similar securities is 11.5 percent?
A)$19.41
B)$18.40
C)$17.46
D)$16.93
E)$17.13

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The Answer of M&D Enterprises paid its first annual dividend yesterday in the amount of $.28 a share.The company plans to double each annual dividend payment for the next three years.After that time,it plans to pay a constant $2.25 per share indefinitely.What is one share of this stock worth today if the market rate of return on similar securities is 11.5 percent?
A)$19.41
B)$18.40
C)$17.46
D)$16.93
E)$17.13

M&D Enterprises Paid Its First Annual Dividend Yesterday in the Amount