How much are you willing to pay to purchase one share of


Miller Brothers Hardware just paid an annual dividend of $1.60 per share. Today, the company announced that future dividends will be increasing by 3.40 percent annually. If you require a 9.5 percent rate of return, how much are you willing to pay to purchase one share of this stock today?

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Financial Management: How much are you willing to pay to purchase one share of
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