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Sagot :
The estimate of the price of Royal Ranch House stock at the end of the fifth year will be $23.45.
- Current price of the common stock = $18.11
- Growth rate = 5.30%
- Time = 5 years.
Therefore, the estimate the price of Royal Ranch House stock by the fifth year will be:
= Current price × (1 + 5.30%)⁵
= $18.11 × (1 + 0.053)⁵
= $23.45
Therefore, the correct option is $23.45.
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