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Question 1 2 pts Michael's, Incorporated, just paid $2.20 to its shareholders as the annual dividend. Simultaneously, the company announced that future dividends will be
Question 1 2 pts Michael's, Incorporated, just paid \$2.20 to its shareholders as the annual dividend. Simultaneously, the company announced that future dividends will be increasing by 4.7 percent. If you require a rate of return of 9 percent, how much are you willing to pay today to purchase one share of the company's stock? Format your answer to 2 decimal places for submission
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