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The Declining Company's dividends are declining at an annual rate of 6 percent. The company just paid a dividend of $4 per share. You require

The Declining Company's dividends are declining at an annual rate of 6 percent. The company just paid a dividend of $4 per share. You require a 16 percent rate of return. How much will you pay for this stock?

A.$19.20

B.$17.09

C.$15.33

D.$13.85

E.$21.78

F.$12.57

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