Miller Juice,Inc.just paid a $3 dividend.The company is expected to pay a $3.50 dividend next year and a $4 dividend in two years.After that,dividends are expected to grow at 5% forever.If investors require a return of 12% on the investment,what should Miller Juice stock sell for today?
A) $54.15
B) $49.63
C) $57.15
D) $60.00
Correct Answer:
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