Shareholders as the annual dividend

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Reference no: EM13811271

Michael's, Inc. just paid $2.75 to its shareholders as the annual dividend. Simultaneously, the company announced that future dividends will be increasing by 5.90 percent. If you require a rate of return of 10.1 percent, how much are you willing to pay today to purchase one share of Michael's stock?

$72.09

$69.34

$28.83

$18.20

$34.67

Reference no: EM13811271

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