The last dividend on Spirex Corporation's common stock was $4.00, and the expected growth rate is 10 percent. If you require a rate of return of 20 percent, what is the highest price you should be willing to pay for this stock?
A. $38.00
B. $40.00
C. $45.00
D. $44.00
E. $50.00
Answer: D
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What will be an ideal response?
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