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The LaMonte-Banter is expected to earn $3.24 per share next year. The company will have a return on equity of 16.9% and the company is expected to grow at an annal rate of 3.4% into the foreseeable future. The company has a cost of equity of 13.8%. Given this information, what is the present value of the growth copportunity? Do not round intermediated calculations, but round your final answer to dollars and cents