Ray's Hardware stock will pay a dividend of $3.55 per share next year. The company pledges to increase its dividend by 3.25 percent per year indefinitel If you require a return of 8 percent on your investment, how much will you pay for the company's stock today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Multiple Choice $68.84 $74.74

Ray's Hardware stock will pay a dividend of $3.55 per share next year. The company pledges to increase its dividend by 3.25 percent per year indefinite If you require a return of 8 percent on your investment, how much will you pay for the company/s stock today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.9, 32.16.) Muttiple Choice $68.84 $7474