Michaels inc just paid 240 to its shareholders as the

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Michael's, Inc. just paid $2.40 to its shareholders as the annual dividend. Simultaneously, the company announced that future dividends will be increasing by 5.20 percent. If you require a rate of return of 9.4 percent, how much are you willing to pay today to purchase one share of Michael's stock?

Reference no: EM13623218

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