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    Calculating value of last dividend paid

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    Weisbro and Sons' common stock sells for $21 a share and pays an annual dividend that increases by 5% annually. The market rate of return on this stock is 9%. What is the amount of the last dividend paid by Weisbro and Sons?

    A. $.77
    B. $.80
    C. $.84
    D. $.87
    E. $.88

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    Solution Summary

    The solution describes the steps to calculate value of last dividend paid.