Question: 3. Y & Co. will pay $3.40 per share dividend next year. The company pledges to increase its dividend by 4.5% per year indefinitely. If

3. Y & Co. will pay $3.40 per share dividend next year. The company pledges to increase its dividend by 4.5% per year indefinitely. If you require an 11% return on your investment, how much will you pay for the companys stock today?

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