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A company just paid a dividend of $2.50 per share. The dividends are expected to grow at 11 percent for the next four years and

A company just paid a dividend of $2.50 per share. The dividends are expected to grow at 11 percent for the next four years and then level off to a growth rate of 3 percent indefinitely. If the required return is 15 percent, what is the price of the stock today? Round to the closest $0.01.

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