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3. Gangway Travel Service just paid $1.80 to its shareholders as the annual dividend. Simultaneously, the company announced that future dividends will increase by 2%.

3. Gangway Travel Service just paid $1.80 to its shareholders as the annual dividend. Simultaneously, the company announced that future dividends will increase by 2%. If you require a 10% rate of return, how much should you pay to purchase one share of the stock?

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