Multiple Choice
Shane purchased a stock this morning at a cost of $11 a share. He expects to receive an annual dividend of $.27 a share next year. What will the price of the stock have to be one year from today if Shane is to earn a 15 percent rate of return on this investment?
A) $12.38
B) $12.60
C) $12.88
D) $13.14
E) $14.28
Correct Answer:
Verified
Correct Answer:
Verified
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