If investors require a 15 rate of return to purchase the


Every year for the past five years, Flights 'R Us has paid a constant dividend of $2.50 per share. Next year and every year after, Flights 'R Us will increase the dividend rate 2.5% per year. If investors require a 15% rate of return to purchase the stock, what is the market value of this stock? (rounded two decimal places)

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Finance Basics: If investors require a 15 rate of return to purchase the
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