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24. Last week, Northern Railways paid an annual dividend of $2.44 per share. The company has been reducing the dividends by 15 percent each year.

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24. Last week, Northern Railways paid an annual dividend of $2.44 per share. The company has been reducing the dividends by 15 percent each year. How much are you willing to pay to purchase stock in this company if your required rate of return is 16 percent? . $6.69 B. $7.87 C. $36.60 D. $244.00 E. $8.45 11>

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