Question: Garnet Co. increases its annual dividend by 3 percent each year. The common stock has a market price of $60 a share on a required

Garnet Co. increases its annual dividend by 3 percent each year. The common stock has a market price of $60 a share on a required return of 12 percent. What is the amount of the last dividend this company paid? $5.24 $3.70 $6.30 $4.55

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