S&P Enterprises will pay an annual dividend of $2.08 a share on its common stock next year. The firm just paid a dividend of $2.00 a share and adheres to a constant rate of growth dividend policy. What will one share of S&P common stock be worth ten years from now if the applicable discount rate is 8 percent?
A) $71.16
B) $74.01
C) $76.97
D) $80.05
E) $83.25
C) $76.97
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