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A company just paid a dividend of $1.45. The dividend is expected to decline by 6% a year in perpetuity. The discount rate is 11%.

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A company just paid a dividend of $1.45. The dividend is expected to decline by 6% a year in perpetuity. The discount rate is 11%. What is the price of the company's stock? $30.74 $29.00 $8.02 $8.53 $13.18

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