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Antiques R Us is a mature manufacturing firm. The company just paid a $9 dividend , but management expects to reduce the payout by 7

Antiques R Us is a mature manufacturing firm. The company just paid a $9 dividend , but management expects to reduce the payout by 7 percent per year indefinitely.

required: If you require an 11 percent return on this stock, what will you pay for a share today?

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