What is the current price of the stock-dividends will grow

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Reference no: EM13806185

McIver, Inc. currently pays a $2 annual dividend. Investors believe that dividends will grow at 20% next year, 12% for the following year, and 6% annually thereafter. The required return is 10%. What is the current price of the stock?

A. $54.90

B. $60.80

C. $63.27

D. $69.34

Reference no: EM13806185

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