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A company has just set next year's dividend at $4.70 a share. The company also announced that all future dividends will increase by 5% annually.

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A company has just set next year's dividend at $4.70 a share. The company also announced that all future dividends will increase by 5% annually. What is the maximum amount you should pay to purchase a share of the company's stock if your goal is to earn a 15.6% rate of return? $44.34 $41.81 $39.28 $36.75 $34 22

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