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Question: diets for you announced today that it will begin paying...

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Diets For You announced today that it will begin paying annual dividends next year.

The first dividend will be $1.25 a share. The following dividends will be $0.25, $0.25,

$0.50, and $0.75 a share annually for the following 4 years, respectively. At the end of

the fifth year, the stock could be sold for $18. How much are you willing to pay to buy

one share of this stock today if your desired rate of return is 8.5 percent?

$14.39

Please Show all work and steps typed as I am on mobile

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