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How much are willing to pay to purchase one share

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Problem 1: Three Corners Markets paid an annual dividend of $1.37 a share last month. Today, the company announced that future dividends will be increasing 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?

a. $18.23

b. $16.00

c. $16.67

d. $17.68

e. $15.57

Reference no: EM132819753

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