What is the maximum amount

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Leprechaun's made two announcements concerning its common stock today. First, the company announced that its next annual dividend has been set at $3.20 a share. Secondly, the company announced that all future dividends will increase by 4% annually. What is the maximum amount you should pay to purchase of the company's stock if your goal is to earn a 8% rate of return?

Reference no: EM132626870

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