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Man City just paid an annual dividend of $3.50 a share. Today, the company announced that future dividends will be increasing by 3.00 percent annually.

Man City just paid an annual dividend of $3.50 a share. Today, the company announced that future dividends will be increasing by 3.00 percent annually. If you require a return of 13.0 percent, how much are you willing to pay to purchase one share of this stock today?

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