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Reddick enterprises stock currently sells for 4050 per

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Reddick Enterprises' stock currently sells for $40.50 per share. The dividend is projected to increase at a constant rate of 5.50% per year. The required rate of return on the stock, r , is 9.00%. What is the stock's expected price 3 years from today?

a. $43.75
b. $58.02
c. $47.56
d. $53.74
e. $52.79

Reference no: EM13568113

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