Miller Brothers Hardware paid an annual dividend of $0.95 per share last month.Today,the company announced that future dividends will be increasing by 2.6 percent annually.If you require a 13 percent rate of return,how much are you willing to pay to purchase one share of this stock today?
A) $9.23
B) $9.37
C) $9.67
D) $9.72
E) $9.88
Correct Answer:
Verified
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