Joes ski shop incorporated has maintained a dividend rate, Ask an Expert

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Joe's Ski Shop Incorporated has maintained a dividend rate of $4 per share for many years. The same rate is expected to be paid in future years. If investors require a 12% rate of return on similar investments, determine the present value of the company's stock.

Choices:
a. $15.00 b. $30.00 c. $33.33 d. $35.00 e. $40.00

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