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$20.00 per share is the current price for Foster Farms' stock. The dividend is projected...

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Accounting

$20.00 per share is the current price for Foster Farms' stock. 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?

Select the correct answer.

a. $23.48
b. $23.04
c. $23.70
d. $23.92
e. $23.26

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