Question: Dunder-Mifflin/Sabre does not currently pay a dividend but is expected to pay their first dividend of $3.50 in four years and then grow that dividend

Dunder-Mifflin/Sabre does not currently pay a dividend but is expected to pay their first dividend of $3.50 in four years and then grow that dividend at 7.5% each year. If the market requires a return of 15%, what should be the current price of their stock? a.) $46.67 b.) $30.68 c.) $26.68 d.) $35.29

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