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20. Tough Tools, Inc. common shares are currently trading at $47.68. Dividends on this stock are paid annualy and are expected to grow at 2.5%

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20. Tough Tools, Inc. common shares are currently trading at $47.68. Dividends on this stock are paid annualy and are expected to grow at 2.5% per annum in perpetuity. Shareholders required return on this investment is 8.75%. The most recent dividend was paid yesterday and the next dividend will be paid in one year. How big was yesterday's dividend? (Cent) If the current price of Greenway Turf, Inc. is $62.50 per share and next year's dividend is expected to be $2.54 per share, what is the required return if dividends are expected to grow 3.75% per year? ((Percent)

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