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A stock is expected to pay $1.31 dividend to its investor next year. An investor expects to sell the stock at $48.14 in one year

A stock is expected to pay $1.31 dividend to its investor next year. An investor expects to sell the stock at $48.14 in one year and requires required rate of return of 15.82% on this stock investment.

What is the intrinsic value of this stock?

Please round your answer to the second decimal without dollar sign. E.g. 12.34

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