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A firm expects EPS of $2.15 exactly one year from now. It will pay shareholders all its earnings as dividends, and it will continue this

A firm expects EPS of $2.15 exactly one year from now. It will pay shareholders all its earnings as dividends, and it will continue this policy every year thereafter. If the stock's required rate of return is 8.5%, what is a fair price for the stock today? Round your answer to the nearest penny.

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