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How much should you expect to pay

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Question - Wilbert's Clothing Stores just paid a $1.50 annual dividend. The company has a policy whereby the dividend increases by 2.5% annually. You would like to purchase 100 shares of stock in this firm but realize that you will not have the funds to do so for another three years. If you desire a 15% rate of return, how much should you expect to pay for 100 shares when you can afford to buy this stock? Ignore trading costs.

Reference no: EM133018328

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