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A company stopped paying a common dividend of $3.00 per share two years ago, but after a restructuring it expects to resume paying an annual

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A company stopped paying a common dividend of $3.00 per share two years ago, but after a restructuring it expects to resume paying an annual dividend of $2.50 per share forever, starting next year (12 months from today). Investors require a 20% return on these shares. What is the price of the stock today? $14.00 $12.50 $13.75 $12.00 $15.00

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