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A company pays a constant $7.25 dividend on its stock. The company will maintain this dividend for the next 13 years and then will cease

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A company pays a constant $7.25 dividend on its stock. The company will maintain this dividend for the next 13 years and then will cease paying dividends forever. If the required return on this stock is 12 percent, what is the current share price? Enter your answer as dollars with 2 digits to the right of the decimal point in the box shown below. Your Answer: 1

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