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Take Time Corporation just paid a dividend of $4.45 this year. The company pledges to increase its dividend by 5 percent per year, indefinitely. If

Take Time Corporation just paid a dividend of $4.45 this year. The company pledges to increase its dividend by 5 percent per year, indefinitely. If you require a return of 9 percent on your investment, how much will you pay for the companys stock in year 4?

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