The amount you are willing to pay for one share if you require a rate of return of 9.3 percent is $13.01.
Using this formula
Amount=Annual dividend/Required rate of return
Where:
Annual dividend= $1.21 per share
Required rate of return=9.3% or .093
Let plug in the formula
Amount=$1.21/.093
Amount=$13.01
Inconclusion the amount you are willing to pay for one share if you require a rate of return of 9.3 percent is $13.01.
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