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(7)A stock is expected to pay a dividend of $0.34 per share next quarter, and analysts expect it to grow forever at a rate of

(7)A stock is expected to pay a dividend of $0.34 per share next quarter, and analysts expect it to grow forever at a rate of 2% APR compounded quarterly. What is the price per share if the market requires a return of 11% APR compounded quarterly? Enter answer in dollars and cents, rounded to nearest cent.

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