Angelina's made two announcements concerning its common stock today.First,the company announced that its next annual dividend has been set at $2.20 a share.Secondly,the company announced that all future dividends will increase by 5% annually.What is the maximum amount you should pay to purchase a share of Angelina's stock if your goal is to earn a 10% rate of return?
A) $31.60
B) $32.46
C) $37.44
D) $44.00
E) $46.51
Correct Answer:
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