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Salt and Pepper pays a constant annual dividend of $1.30 per share. How much are you willing to pay for one share if you require

Salt and Pepper pays a constant annual dividend of $1.30 per share. How much are you willing to pay for one share if you require a 12% rate of return?
a. $15.60
b. $13.50
c. $10.83
d. $12.06
e. $9.23

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