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A firm just paid a dividend of $4.94. The dividend is expected to grow at a constant rate of 3.25% forever and the required rate

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A firm just paid a dividend of $4.94. The dividend is expected to grow at a constant rate of 3.25% forever and the required rate of return is 11.29%. What is the value of the stock? Answer format: Currency: Round to: 2 decimal places

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