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Reddick Enterprises' Stock Currently Sells for $24

Question 41

Multiple Choice

Reddick Enterprises' stock currently sells for $24.50 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) $31.65
B) $24.45
C) $28.77
D) $33.66
E) $26.76

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