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20. Warren Corporation will pay a $3.60 per share dividend next year. The company pledges to increase its dividend by 4.5% per year, indefinitely. If

20. Warren Corporation will pay a $3.60 per share dividend next year. The company pledges to increase its dividend by 4.5% per year, indefinitely. If you require a 13% return on your investment, how much will you pay for the companys stock today?

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