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FinanceQ&A LibraryCuban Corporation will pay a dividend of $3.06 per share next year. The company pledges to increase its dividend by 6 percent per year indefinitely. If you require a return of 12 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 priceStart your trial now! First week only $4.99!*arrow_forward*

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Cuban Corporation will pay a dividend of $3.06 per share next year. The company pledges to increase its dividend by 6 percent per year indefinitely. If you require a return of 12 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.)**

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