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Question ABC made two announcements concerning its common stock today. First, the company announced that its next annual dividend has been set at $2.16 a share. Secondly, the company announced that all future dividends will increase by 4% annually. What is the maximum amount you should pay to purchase a share of Angelina’s stock if your goal is to earn a 11% rate of return?

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Question

ABC made two announcements concerning its common stock today. First, the company

announced that its next annual dividend has been set at $2.16 a share. Secondly, the company announced that all future dividends will increase by 4% annually. What is the maximum amount you should pay to purchase a share of Angelina’s stock if your goal is to earn a 11% rate of return? 

 
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