Zoomers Inc. paid an annual dividend of $1.20 yesterday. If future dividends are expected to...
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Zoomers Inc. paid an annual dividend of $1.20 yesterday. If future dividends are expected to grow at a rate of 9 percent, and the required rate of return on this stock is 15 percent, the fair price of this stock today is:
| a. | $15.48 | |
| b. | $24.15 | |
| c. | $21.80 | |
| d. | $20.00 | |
| e. | None of the above |
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