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Hudson Corporation will pay a dividend of $2.62 per share next year. The company pledges to increase its dividend by 4.5 percent per year indefinitely.

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Hudson Corporation will pay a dividend of $2.62 per share next year. The company pledges to increase its dividend by 4.5 percent per year indefinitely. If you requirea return of 10 percent on your investment, how much will you pay for the company's stock today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Stock price

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