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Better Plastics is a mature manufacturing firm. The company just paid a $8 annual dividend, but management expects to reduce the payout by 4 percent

Better Plastics is a mature manufacturing firm. The company just paid a $8 annual dividend, but management expects to reduce the payout by 4

percent per year, indefinitely. If you require a 12 percent return on this stock, what will you pay for a share today?

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