Question: Apples most recent dividend was $2.50 per share (D 0 = $2.50). The dividend is expected to grow at a rate of 10 percent per

Apples most recent dividend was $2.50 per share (D₀ = $2.50). The dividend is expected to grow at a rate of 10 percent per year. The risk-free rate is 5 percent and the market rate of return is 10 percent (r_M). If the companys beta is 1.3, what is the price of the stock today? Must show Work

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