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Semo inc. will pay a dividend of $6.44 per share next year. The company pledges to increase its dividend by 6 percent per year indefinitely.

Semo inc. will pay a dividend of $6.44 per share next year. The company pledges to increase its dividend by 6 percent per year indefinitely. If you require a return of 11 percent on your investment, how much will you pay for the companys stock today?

Group of answer choices

$49.80

$66.70

$64.40

$128.80

$87.40

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