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Sunset Corporation will pay a dividend of $3.99 per share next year. The company pledges...

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Finance

Sunset Corporation will pay a dividend of $3.99 per share next year. The company pledges to increase its dividend by 5% per year, indefinitely. If you require a return of 8% on your investment, how much will you pay for the companys stock today? Round your answer to two decimal places.

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