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A corporation just paid a dividend of $2.50 per share on its stock. Dividends are expected to grow at a constant rate of 2% per
A corporation just paid a dividend of $2.50 per share on its stock. Dividends are expected to grow at a constant rate of 2% per year, indefinitely. If investors require a 6% return on this stock, then what is the stocks current intrinsic value or true price according to the constant dividend growth model? Enter your answer as dollars and cents rounded to 2 decimal places
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