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Katherine's made two announcements concerning its common stock today. First, the company announced that its next annual dividend has been set at $2.20 a share.
Katherine's made two announcements concerning its common stock today. First, the company announced that its next annual dividend has been set at $2.20 a share. Secondly, the company announced that all future dividends will increase by 5% annually. What is the maximum amount you should pay to purchase a share of Katherine's stock if your goal is to earn a 10% rate of return? A. $31.60 B. $32.46 C. $37.44 D. $44.00 E. $46.51
Provide excel calculation.
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