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Suppose a firm is growing its dividends at a constant rate each year. If this year the the firm paid a dividend of $0.89 with
Suppose a firm is growing its dividends at a constant rate each year. If this year the the firm paid a dividend of $0.89 with earnings per share of $2.53 and a long-run growth rate of 5.1%. Next year's earnings per share are expected to be 3.22. What is the amount of next year's dividend. Show your answer to the nearest $.01.
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