Winifred, Inc. paid $1.64 as an annual dividend per share last year. The company is expected to increase their annual dividends by 3% each year. How much should you pay to purchase one share of this stock if you require a 9% rate of return on this investment?
A) $18.22
B) $18.77
C) $27.33
D) $28.15
Correct Answer:
Verified
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