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A firm will pay a dividend of $3.20 next year. The dividend is expected to grow at a constant rate of 3.50% forever and the

A firm will pay a dividend of $3.20 next year. The dividend is expected to grow at a constant rate of 3.50% forever and the required rate of retum is 10.47%. What is the value of the stock? Answer format: Currency: Round to: 2 decimal places

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