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Company X is paying an annual dividend of $1.35 and has decided to pay the same amount forever. How much should you pay for the

Company X is paying an annual dividend of $1.35 and has decided to pay the same amount forever. How much should you pay for the stock, if you want to earn an annual rate of return of 9.5% on this investment? I get 1.35/0.095=14.12 is this correct?

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