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Question
Kellner Motor Co.'s stock has a required rate of return of 11.50%, and it sells for $25.00 per share. Kellner's dividend is expected to grow at a constant rate of 7.00%. What was the last dividend, D0?a. $0.95
b. $1.05
c. $1.16
d. $1.27
e. $1.40
Answer
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