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QUESTION 7 Hudson Corporation will pay a dividend of $3.60 per share next year. The company pledges to increase its dividend by 2.80 percent per

QUESTION 7

Hudson Corporation will pay a dividend of $3.60 per share next year. The company pledges to increase its dividend by 2.80 percent per year indefinitely.

If you require a return of 5.50 percent on your investment, how much will you pay for the company's stock today?

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