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Schiller Corporation will pay a $2.70 per share dividend next year. The company pledges to increase its dividend by 5.5 percent per year, indefinitely. If

Schiller Corporation will pay a $2.70 per share dividend next year. The company pledges to increase its dividend by 5.5 percent per year, indefinitely. If you require a return of 12 percent on your investment, how much will you pay for the companys stock today?

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