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A firm is expected to pay a dividend next year of $2.50 per share, the...

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Accounting

A firm is expected to pay a dividend next year of $2.50 per share, the growth rate for dividends is expected to be 3% forever, and investors have a required return of 14%. What is market price of the shares today?

Select one:

a. $17.86

b. $23.41

c. $18.39

d. $22.73

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