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You are considering buying a share of a company's equity. The firm paid an annual dividend of $1 yesterday, and you expect the annual dividend

You are considering buying a share of a company's equity. The firm paid an annual dividend of $1 yesterday, and you expect the annual dividend to to increae in size by 3% per year forever. The riskiness of this cash flow is 6% per year APR. What is the most you would be willing ot pay for this stock?

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