Question: Please answer question and show all work/steps. Thanks! 47. S&P Enterprises will pay an annual dividend of $2.08 a share on its common stock next

Please answer question and show all work/steps. Thanks!

47. S&P Enterprises will pay an annual dividend of $2.08 a share on its common stock next year Last week, the company paid a dividend of $2.00 a share. The company adheres to a constant rate of growth dividend policy. What will one share of S&P common stock be worth ten years from now if the applicable discount rate is 8 percent? A. $71.16 B. $74.01 C. $76.97 D. $80.05

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