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Ginger Baker, Inc. just paid an annual dividend of $3 a share and this dividend is expected to grow at a rate of 4% per year for the foreseeable future. If the discount rate for Ginger Baker is 9%, what is the current price of the stock?

  • $37.33
  • $38.16
  • $38.83
  • $52.40
  • $62.40
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