3. 20. Negative Growth [LO 8.1] Antiques R Us is a mature manufacturing firm. The company just...

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3. 20.

Negative Growth [LO 8.1] Antiques R Us is a mature manufacturing firm.

The company just paid a dividend of $9.80, but management expects to reduce the payout by 4 per cent per year indefinitely. If you require a return of 9.5 per cent on the shares, what will you pay for a share today?

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