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A stock has a beta of 0.95, the risk-free rate is 1.76% and the market premium is 2.84%. The stock will pay a $1.87 as

A stock has a beta of 0.95, the risk-free rate is 1.76% and the market premium is 2.84%. The stock will pay a $1.87 as dividend for 40 years (starting a year from now) and after that nothing (firm will liquidate). What is the price of the stock? Round the answer to two decimal places.

Answer in decimal point:

Answer in percentage:

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