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A stock is expected to pay a dividend of $2.47 in year 1 . The required rate of return is 10%, and the expected constant

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A stock is expected to pay a dividend of $2.47 in year 1 . The required rate of return is 10%, and the expected constant growth rate is 7%. What is the stock's current value? (Round the answer to two decimal places) (you MUST show your work to earn credit)

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