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The Downhill Co. just paid its annual dividend of $4.70 per share. It has been reducing the dividends by 12.8 percent each year. What is

The Downhill Co. just paid its annual dividend of $4.70 per share. It has been reducing the dividends by 12.8 percent each year. What is the maximum you should be willing to pay today to purchase this company's stock if you require a 15 percent rate of return?

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