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( 5 points ) A stock will pay its next dividend of $ 5 in 7 months. Each subsequent dividend will be paid every 1

(5 points) A stock will pay its next dividend of $5 in 7 months. Each subsequent dividend will be paid every 12 months, and will be 4% lower than the previous one. These dividends will be paid forever. What is the present value of the stock?
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