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Last year, Kirkland paid an annual dividend of $3.20 per share. The company has been reducing the dividends by 5 percent annually. How much are

Last year, Kirkland paid an annual dividend of $3.20 per share. The company has been reducing the dividends by 5 percent annually. How much are you willing to pay to purchase stock in this company if your required rate of return is 12 percent?

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