Question: AT&T currently pays a $2.10 yield, which has been a consistent increase of 3.5% over the past 10 years. Assuming this growth rate will remain

AT&T currently pays a $2.10 yield, which has been a consistent increase of 3.5% over the past 10 years. Assuming this growth rate will remain constant, what should the price of AT&T be trading
for if investors require 12% to invest in its stock?

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