hightower pharmacy just paid a 3.10 annual dividend. the company as a policy of increasing the dividend by 3.8 percent annually. you would like to purchase 100 shares of stock in this firm but relize that you will not hae the funds to do so for another four years. if you require a 16 percent rate of return, how much will you be willing to pay for the 100 shares when you can afford to make this investment.