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38. Peele Clothiers Ltd.'s current dividend is $3.60. Dividends are expected to grow by 9 percent for years 1 to 3, 6 percent for years

38. Peele Clothiers Ltd.'s current dividend is $3.60. Dividends are expected to grow by 9 percent for years 1 to 3, 6 percent for years 4 to 7, and 2 percent thereafter. The required rate of return on the stock is 12 percent. What is the current stock price for Peele

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