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Five star corporation will pay a dividend of $ 2 . 9 0 per share next year. The company pledges to increase its dividend by

Five star corporation will pay a dividend of $

2.90

per share next year. The company pledges to increase its dividend by

4

percent per year indefinately. If you require a return of

11

percent n your investment, how much will you pay for the company's stock today?

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