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What should the market price of this stock be

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Question - The stock of Gonzalez Industries traditionally provides a rate of return of 11.7 percent. The company just paid an annual dividend of $2.81 per share and recently announced it will commence increasing its dividends by 3 percent each year. For this stock to return its traditional rate, what should the market price of this stock be?

Reference no: EM133137118

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