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A common stock just paid a dividend (D0) of $4.35 per share. Dividends are expected to fall at the rate of 8% per year forever.

A common stock just paid a dividend (D0) of $4.35 per share. Dividends are expected to fall at the rate of 8% per year forever. If the interest rate on this stock is 14% per year, what will the price of this stock be in Year 36?

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