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A company has just paid its annual dividend of $4.05 yesterday, and it is unlikely to change the amount paid out in future years. If

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A company has just paid its annual dividend of $4.05 yesterday, and it is unlikely to change the amount paid out in future years. If the required rate of return is 16 percent p.a., what is the share worth today? (to the nearest cent; don't include $ sign)

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