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FruitTech Corporation recently paid an annual dividend of $1.95 per share to its shareholders. The company has also announced that future dividends will increase by

"FruitTech Corporation" recently paid an annual dividend of $1.95 per share to its shareholders. The company has also announced that future dividends will increase by 4.3%. If an investor requires a rate of return of 8.5%, how much should they be willing to pay today to buy one share of this company's stock?

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