Annual dividend with the stated intention of increasing

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Miller Cooper just paid a $4.25 annual dividend with the stated intention of increasing its dividend by 3% annually. You would like to purchase stock in this firm but realize that you will not have the funds to do so for another 4 years. If you require a 15% rate of return, how much will you be willing to pay per share for the stock when you can afford to make this investment?

Reference no: EM131339717

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