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B) A company will pay a dividend of $3.28 per share next year. The company pledges to increase its dividend by 3.75 per cent per

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B) A company will pay a dividend of $3.28 per share next year. The company pledges to increase its dividend by 3.75 per cent per year indefinitely. If you require a return of 10 per cent on your investment, how much will you pay for the company's shares today? (10 marks)

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