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Teder Corporation stock currently sells for $65 per share. The market requires a 12 percent return on the firm's stock.
Required :
If the company maintains a constant 7 percent growth rate in dividends, what was the most recent dividend per share paid on the stock?
a) $3.25
b) $12.42
c) $3.04
d) $5.16
e) $2.92
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