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You are interested in investing in a company that expects to grow steadily at an annual rate of 6.7 percent for the foreseeable future. The

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You are interested in investing in a company that expects to grow steadily at an annual rate of 6.7 percent for the foreseeable future. The furm paid a dividend of $2.20 last year. If your required rate of return is 13.4 percent, what is the most you would be willing to pay for this stock? (Do not round intermediate calculation. Round final answer to the nearest dollar.) 522 542 $35 $54

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