Calculating the maximum amount

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Angelina's made two announcements concerning their common stock today. First, the company announced that their NEXT annual dividend has been set at $2.16 a share. Secondly, the company announced that all future dividends will increase by 4% annually. What is the maximum amount you should pay to purchase a share of Angelina's stock if your goal is to earn a 10% rate of return?

Reference no: EM133114572

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