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A firm paid an annual dividend of $ 1 . 3 7 per share yesterday. Today, the company announced that future dividends will be increasing

A firm paid an annual dividend of $1.37 per share yesterday. Today, the company announced that future dividends will be increasing by 3 percent annually. If you require a return of 14.6 percent, how much are you willing to pay to purchase one share of this stock today?
$11.81
$9.67
$12.16
$13.53
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