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Micro, Inc. will pay a dividend of $2.30 per share next year. Ifthe company plans to increase its dividend by 9 percent per year indefinitely,

Micro, Inc. will pay a dividend of $2.30 per share next year. Ifthe company plans to increase its dividend by 9 percent per year indefinitely, and you require a 12percent return on your investment, what should you pay for the companys stock?

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