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A company has just paid a dividend of 3 . 0 9 $ . Its discount rate is 9 . 8 % , and the

A company has just paid a dividend of 3.09$. Its discount rate is 9.8%, and the expected perpetual growth rate is 4.7%. What would you expect to be the stock's price TODAY?
Express your answer in dollars, rounded to the nearest cent (2 decimals).

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