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You are interested in investing in a company that expects to grow steadily at an annual rate of 5 percent. The firm paid a dividend

You are interested in investing in a company that expects to grow steadily at an annual rate of 5 percent. The firm paid a dividend of $4.20 last year (D0). If your required rate of return is 13 percent, what is the most you would be willing to pay for this stock?

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