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Antiques R Us is a mature manufacturing firm. The company just paid a dividend of n $11, but management expects to reduce the payout by

Antiques R Us is a mature manufacturing firm. The company just paid a dividend of n $11, but management expects to reduce the payout by 6 percent per year indefinitely.

If you require a return of 15 percent on this stock, what will you pay for a share today?

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