Question: Problem 8-4 Stock Values (LO1] Caan Corporation will pay a $2.98 per share dividend next year. The company pledges to increase its dividend by 5

Problem 8-4 Stock Values (LO1] Caan Corporation will pay a $2.98

Problem 8-4 Stock Values (LO1] Caan Corporation will pay a $2.98 per share dividend next year. The company pledges to increase its dividend by 5 percent per year indefinitely. If you require a return of 14 percent on your investment, how much will you pay for the company's stock today? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) Stock price $ C

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