What is maximum price you will pay for stock today

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Reference no: EM131997869

You are considering acquiring a common stock that you would like to hold for one year. You expect to receive both $1.81 in dividends and $37.00 from the sale of the stock at the end of the year.

What is the maximum price you will pay for the stock today if you want to earn a return of 11%? (Round your answer to 2 decimal places.)

Reference no: EM131997869

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