Multiple Choice
Sessler Manufacturers made two announcements concerning its common stock today.First,the company announced that the next annual dividend will be $1.75 a share.Secondly,all dividends after that will decrease by 1.5 percent annually.What is the maximum amount you should pay to purchase a share of this stock today if you require a 14 percent rate of return?
A) $11.29
B) $12.64
C) $13.27
D) $14.00
E) $14.21
Correct Answer:
Verified
Correct Answer:
Verified
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