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You are contemplating the purchase of a stock you will hold for 2 years. You will receive $0.86 per year in dividends, and then you

You are contemplating the purchase of a stock you will hold for 2 years. You will receive $0.86 per year in dividends, and then you expect to sell it for $20. If the required return is 8%, what is the most you would pay for the stock?

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