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Announced that future dividends

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Three Corners Markets paid an annual dividend of $1.37 a share last month. Today, the company announced that future dividends will be increasing by 2.8 percent annually. If you require a return of 11.6 percent, how much are you willing to pay to purchase one share of this stock today?

  • $17.68
  • $18.23
  • $16.00
  • $16.67
  • $15.57

Reference no: EM131434927

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