Annual dividend-policy of increasing the dividend

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Reference no: EM13939335

Walgreens just paid a $3.25 annual dividend. The company has a policy of increasing the dividend by 3.5% annually. You would like to purchase stock in this firm but realize that you will not have the funds to do so for another three years. If you require a 14% annual rate of return, how much will you be willing to pay per share when you can afford to make this investment?

Reference no: EM13939335

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