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Aiken company made two announcements concerning its common stock today. First, the company announced that its next annual dividend (at t=1) has been set at

Aiken company made two announcements concerning its common stock today. First, the company announced that its next annual dividend (at t=1) has been set at $1.50 a share. Secondly, the company announced that all future dividends will increase by 6% annually. What is the maximum amount you should pay to purchase a share of Sam's stock if your goal is to earn a 17% rate of return?

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