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Firefly Company just paid a dividend of $15 per share, but the management expects to reduce the payout by uce the payout by 5 percent

Firefly Company just paid a dividend of $15 per share, but the management expects to reduce the payout by uce the payout by 5 percent per year if you require a return of 10 percent on this stock, what will you pay for a share today?

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