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The common stock of Addison Enterprises just paid a $2.37 annual dividend. If dividends are expected to increase by 4.1 percent annually, and you require

The common stock of Addison Enterprises just paid a $2.37 annual dividend. If dividends are expected to increase by 4.1 percent annually, and you require a 8 percent rate of return, how much are you willing to pay for one share of stock?

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