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Giant Squid Ink is losing significant market share and thus its managers have decided to decrease the firm's annual dividend. The last annual dividend was

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Giant Squid Ink is losing significant market share and thus its managers have decided to decrease the firm's annual dividend. The last annual dividend was $2.40 a share but all future dividends will be decreased by 7 percent annually. What is a share of this stock worth today if the required rate of return is 15 percent? O $7.67 $10.91 O $27.90 O $10.15 None of the answers is correct

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