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Assume ADM stock pays a dividend in the current year of $1.75 per share and...

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Finance

Assume ADM stock pays a dividend in the current year of $1.75 per share and that the dividend is expected to grow by 2% per year. What should the stock be selling for if an investor has a required rate of return of 8%?

A) $29.75

B) $23.62

C) $21.88

D) $29.16

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