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Suppose a firm is maintaining a constant dividend payout ratio. This year the the firm paid a dividend of $1.46 with earnings per share of
Suppose a firm is maintaining a constant dividend payout ratio. This year the the firm paid a dividend of $1.46 with earnings per share of $4.32. The firm has a long-run growth rate of 8.3%. Next year, earnings per share are expected to be 3.97. What is the amount of next year's dividend. Show your answer to the nearest $.01.
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