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25 A stock has a beta of 1.59. The current risk free rate in the economy is 3.00%, while the historical market portfolio risk premium

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25 A stock has a beta of 1.59. The current risk free rate in the economy is 3.00%, while the historical market portfolio risk premium is 5.50%. The stock is expected to pay a $1.44 dividend next year. If we assume that dividends will grow constantly forever at 3.00%, what is a fair price for the stock today? Submit Answer format: Currency: Round to: 2 decimal places

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