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You plan to purchase a share of common stock in an airline. The dividends on this common stock have been growing at a 3 percent

You plan to purchase a share of common stock in an airline. The dividends on this common stock have been growing at a 3 percent rate for the past 20 years, and you expect this to continue indefinitely. Dividends are expected to be $10 per share at the end of the year ahead, and you think 15 percent is the appropriate rate of return on this stock. How much would you be willing to pay for this stock?

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