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Shareholders as the annual dividend

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Michael's, Inc. just paid $2.55 to its shareholders as the annual dividend. Simultaneously, the company announced that future dividends will be increasing by 5.50 percent. If you require a rate of return of 9.7 percent, how much are you willing to pay today to purchase one share of Michael's stock?

$66.60

$32.03

$64.05

$27.73

$17.70

Reference no: EM13826101

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