Whited Inc.'s stock currently sells for $35.25 per share. The dividend is projected to increase at a constant rate of 5.25% per year. The required rate of return on the stock, rs, is 11.50%. What is the stock's expected price 5 years from now?
A. $45.53
B. $52.81
C. $40.06
D. $39.15
E. $47.80
Answer: A
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