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L. 8.32 T L D. 8.58 percent E. 8.60 percent 8. A firm on the...

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L. 8.32 T L D. 8.58 percent E. 8.60 percent 8. A firm on the road to great success just paid its first annual dividend of $.28. The company plans to double annual dividend for the next 3 years. After that, they are planning on paying a constant $1.50 per share indefinitely. What is stock worth today if the market return on similar securities is 11.5%? A. $9.41 B. $11.40 C. $11.46 D. $11.93 E. $12.43

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