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You have just purchased a share of stock for $20.88. The company is expected to pay a dividend of $ 0 . 5 8 per

You have just purchased a share of stock for $20.88.The company is expected to pay a dividend of $0.58per share in exactly one year. If you want to earn a 9.5%return on yourinvestment, what price do you need if you expect to sell the share immediately after it pays thedividend?

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