Suppose a company pays an annual dividend of 320 on its, Financial Management

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Suppose a company pays an annual dividend of 320 on its

Suppose a company pays an annual dividend of $3.20 on its common stock in a single annual installment, and management plans on raising this dividend by 6 percent per year indefinitely. If the required rate of return on this stock is 12 percent, what is the current share price?

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