River Rock, Inc., just paid an annual dividend of $2.80. The company has increased its dividend by 2.5 percent a year for the past 10 years and expects to continue doing so. What will a share of this stock be worth 6 years from now if the required return is 16 percent? Multiple Choice
a. $24.65
b. $25.50
c. $25.08
d. $26.90
e. $23.60
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