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Last year Artworks, Inc. paid a dividend of $1.75. You anticipate that the companys growth rate is 6 percent and have a required rate of

Last year Artworks, Inc. paid a dividend of $1.75. You anticipate that the companys growth rate is 6 percent and have a required rate of return of 9 percent for this type of equity investment. What is the maximum price you would be willing to pay for the stock?

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