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You have just purchased a share of stock for $18.17. The company is expected to pay a dividend of $0.62 per share in exactly one
You have just purchased a share of stock for
$18.17.
The company is expected to pay a dividend of
$0.62
per share in exactly one year. If you want to earn a
10.8%
return on your investment, what price do you need if you expect to sell the share immediately after it pays the dividend?
The price one year from now should be
$_______.
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