Spacefood Products will pay a dividend of $2.40 per share this year. It is expected that this dividend will grow by 3% per year each year in the future. What will be the current value of a single share of Spacefood's stock if the firm's equity cost of capital is 10%?
A) $24.00
B) $23.97
C) $30.22
D) $34.29
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