Jessica's Home Interiors offers a common stock that pays an annual dividend of $1.60 a share. The company has promised to maintain a constant dividend. How much are you willing to pay for one share of this stock today if you want to earn a 9% return on your investments?
A) $17.78
B) $17.97
C) $18.05
D) $18.16
E) $18.34
Correct Answer:
Verified
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