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Problem toy corps common stock currently sells in the

Problem: Toy Corp.'s common stock currently sells in the market for $32.50 per share. The company's dividend is projected to grow at a constant long-term rate of 4.50% per year. The required rate of return on Toy's stock is 14.00%. What will the company's expected stock's price be 5 years from today?

SHOW WORK

Select one:

A. $33.96

B. $36.24

C. $38.73

D. $40.50

E. $42.69

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