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Antiques R Us is a mature manufacturing firm. The company just paid a dividend of $7.74, but management expects to reduce the payout by 2

Antiques R Us is a mature manufacturing firm. The company just paid a dividend of $7.74, but management expects to reduce the payout by 2 percent per year indefinitely. If you require a return of 9.37 percent on this stock, what will you pay for a share today?

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