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Osbourne, Inc., has an odd dividend policy. The company has just paid a dividend of $7 per share and has announced that it will increase

Osbourne, Inc., has an odd dividend policy. The company has just paid a dividend of $7 per share and has announced that it will increase the dividend by $3 per share for each of the next 8 years, and then never pay another dividend. If you require a 12 percent return on the company's stock, you will pay $________for a share today.

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