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(6%) Monsters Inc. is a utility company that recently paid a common stock dividend of $2.35 per share. If its divided growth rate is expected
(6%) Monsters Inc. is a utility company that recently paid a common stock dividend of $2.35 per share. If its divided growth rate is expected to remain at 7 percent per year indefinitely and its equity cost of capital is 12 percent, determine the current price of a share of Monsters' common stock.
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