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Metroplex Corporation will pay a $5.50 per share dividend next year. The company pledges to increase its dividend by 7.80 percent per year indefinitely. Required:

Metroplex Corporation will pay a $5.50 per share dividend next year. The company pledges to increase its dividend by 7.80 percent per year indefinitely. Required: If you require an 11.50 percent return on your investment, how much will you pay for the company's stock today?

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