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What is current stock price for gruber corp

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Problem 1: Gruber corp. pays a constant dividend of $8.50 on its stock. The company will maintain this dividend for the next 11 years. And will then cease paying the dividends forever. If the required rate of return on this stock is 9.5 percent, what is current stock price?

[A] $56.50

[B] $42.05

[C] $66.57

[D] $46.53

[E] $49.93

Reference no: EM132658971

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