How much will you pay for the company stock today

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Take Time Corporation will pay a dividend of $4.00 per share next year. The company pledges to increase its dividend by 5.5 percent per year, indefinitely.

If you require a return of 9 percent on your investment, how much will you pay for the company’s stock today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Reference no: EM131524896

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