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The common stock of Singer Machines pays an annual dividend that is expected to increase by 6% annually. The stock commands a market rate of
The common stock of Singer Machines pays an annual dividend that is expected to increase by 6% annually. The stock commands a market rate of return of 11% and sells for $54.20 a share. What is the expected amount of the next dividend? A) $2.56 B) $2.59 C) $2.71 D) $2.84 E) $2.87
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