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A firm will pay a dividend of $4.23 next year. The dividend is expected to grow at a constant rate of 3.91% forever and the

A firm will pay a dividend of $4.23 next year. The dividend is expected to grow at a constant rate of 3.91% forever and the required rate of return is 11.80%. What is the value of the stock? (round to 2 decimals)

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