Question: A stock will pay its first dividend in three years. The dividend amount will be $0.60 per share. From then on dividends will grow at

A stock will pay its first dividend in three years. The dividend amount will be $0.60 per share. From then on dividends will grow at 7% per year. If investors require a 10% return on this stock what is the most you should pay today for a share of this stock? a. $18.30 b. $16.13 c. $20.00 d. $15.03 e. $16.53

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