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JLT is a mature manufacturing firm. The company just pald an annual dividend of $3.62, but management expects to reduce future payouts by 3.5 percent

JLT is a mature manufacturing firm. The company just pald an annual dividend of $3.62, but management expects to reduce future payouts by 3.5 percent per year, indefinitely. What is this stock worth today at a required return of 12.5 percent? Multiple Choice $2142 $2183 O $20.24 O 52356 $2002

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