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Company D will pay a dividend of $1.25 per share next year. The company will...

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Finance

Company D will pay a dividend of $1.25 per share next year. The company will increase its dividend by 3.3 percent per year, indefinitely. If you require a return of 10 percent on your investment, how much you should pay for the companys stock today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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