What is the maximum amount you should pay today

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Question - Northern Property Co's announced that their next annual dividend has been set at $3.20 a share. Secondly, the company announced that all future dividends will increase by 7 percent annually. What is the maximum amount you should pay today to purchase a share of Northern's stock if your goal is to earn a 12 percent rate of return?

Reference no: EM132762529

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