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Piano Masters' last annual dividend was $1.40. Future dividends will be increasing by 3 percent annually. How much are you willing to pay for one

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Piano Masters' last annual dividend was $1.40. Future dividends will be increasing by 3 percent annually. How much are you willing to pay for one share of this stock if your required return is 18 percent? $10.42 $7.77 $9.61 $9.33

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