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A common stock just paid a dividend of $1.25/share. The dividend is expected to grow at an average growth rate of 4.8% per year in

A common stock just paid a dividend of $1.25/share. The dividend is expected to grow at an average growth rate of 4.8% per year in perpetuity. The RRR on the stock is 12%. what is the maximum price a potential investor should be willing to pay for this stock?

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