Pledges to increase its dividend

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Reference no: EM13723824

Metroplex Corporation will pay a $3.80 per share dividend next year. The company pledges to increase its dividend by 3.0 percent per year indefinitely. If you require an 11.9 percent return on your investment, you will pay $___________ for the company's stock today. (Do not include the dollar sign ($). Round your answer to 2 decimal places. (e.g., 32.16))

Reference no: EM13723824

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