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Can I get an explanation for the following problem? Delta Company will pay a dividend of $2 per share next year. The company pledges to

Can I get an explanation for the following problem?

  1. Delta Company will pay a dividend of $2 per share next year. The company pledges to increase its dividend by 5 percent per year, indefinitely.If you require a return of 15 percent on your investment, how much will you pay for the company's stock today?

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