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You have just purchased a share of stock for $21.69. The company is expected to pay a dividend of $0.51 per share in exactly one
You have just purchased a share of stock for
$21.69.
The company is expected to pay a dividend of
$0.51
per share in exactly one year. If you want to earn a
9.6%
return on your investment, what price do you need if you expect to sell the share immediately after it pays the dividend?
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