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A firm pays a current dividend of 1.00, it is expected to grow at a constant rate of 3% forever, the current cape rate is

A firm pays a current dividend of 1.00, it is expected to grow at a constant rate of 3% forever, the current cape rate is .12, what is the predicted price for the stock using the dividend growth model (gordon growth model)?

Answer to the nearest 0.1$

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