单选题 A stock will pay a $4 dividend next year, $5 the year after, and $4.3 the following year. An investor believes that he can then sell the stock for $65 at the end of a 3-year holding period. The risk-flee rate of interest is 8%, the market return is 12%, and the stock"s beta is 1.1. What is the value of the stock?
【正确答案】 C
【答案解析】[解析] 根据CAPM模型,必要回报率k e =RFR+(R mkt -RFR)×β=8%+(12%-8%)×1.1=12.4%