Question: Step by step including formula and excel function: East Bay Diner pays an annual dividend of $3.50 per share to its shareholders. The economy is

Step by step including formula and excel function: East Bay Diner pays an annual dividend of $3.50 per share to its shareholders. The economy is tough with supply chain problems, but East Bay promises to somehow continue maintaining this level of dividend for the time being. How much are you willing to pay for one share of East Bay stock if you need to earn an 19.5% annual return

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