Miller Juice,Inc.is expected to pay a $3.00 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) $60.00
B) $54.15
C) $49.39
D) $53.70
Correct Answer:
Verified
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