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Your broker recommends that you purchase AT&T at $34. The stock pays a $2.20 annual dividend, which (like its per share earnings) is expected to

Your broker recommends that you purchase AT&T at $34. The stock pays a $2.20 annual dividend, which (like its per share earnings) is expected to grow annually at 3 percent. If you want to earn 9 percent on your funds, is this stock a good buy?

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