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How much will pay for a share today for stoneworks inc

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Problem 1: Stoneworks, Inc. has an odd dividend policy. The company has just paid a dividend of $15 per share and has announced that it will increase the dividend by $ 3 per share for each of the next five years, and then never pay another dividend. If you require a return of 11 percent on the company's stock, how much will you pay for a share today?

[A] $101.40

[B] $120

[C] $86.40

[D] $71.27

[E] $94.14

Reference no: EM132658975

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