The common stock of Up-Towne Movers sells for $33 a share, has a rate of return of 11.4 percent, and a dividend growth rate of 2 percent annually. What was the amount of the last annual dividend paid?

A. $2.58
B. $2.61
C. $3.04
D. $3.32
E. $3.10

Ans: C. $3.04

Business

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