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Davidson Upholstery Ltd just paid $1.50 to their shareholders as the annual dividend. At the same time, the company announced that all future annual dividends

Davidson Upholstery Ltd just paid $1.50 to their shareholders as the annual dividend. At the same time, the company announced that all future annual dividends will also be $1.50. If you require an 8 percent rate of return, how much are you willing to pay to purchase one share of Davidson's stock?

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