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ABC companys common stocks pay its investors a constant dividend at the end of each year, and currently the stock can be bought at a

ABC companys common stocks pay its investors a constant dividend at the end of each year, and currently the stock can be bought at a price of $29.17. What is the dividend amount for ABC stock if investors require a 12% rate of return?

Select one:

a. $3.50

b. $2.40

c. $1.80

d. $1.40

e. $2.20

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