Reddick Enterprises' stock currently sells for $50.00 per share.The dividend is projected to increase at a constant rate of 5.50% per year.The required rate of return on the stock,rs,is 9.00%.What is the stock's expected price 3 years from today?
A) $71.04
B) $71.63
C) $58.71
D) $68.69
E) $61.65
Correct Answer:
Verified
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