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12. A company just paid a dividend of $3 per share, and that dividend is expected to grow at a constant rate of 3% per

12. A company just paid a dividend of $3 per share, and that dividend is expected to grow at a constant rate of 3% per year in the future. The companys beta is 2, the expected return on the market is 8% and the risk-free rate is 3%. What is the companys current stock price?

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