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How much are you willing to pay for one share of stock if the company just paid an $0.80 annual dividend, the dividends increase by

How much are you willing to pay for one share of stock if the company just paid an $0.80 annual dividend, the dividends increase by 4% annually and you require an 8% rate of return?

$19.23

$20.00

$20.40

$20.80

none of the above

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