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A stock just paid a dividend of $1.07. The dividend is expected to grow at 23.95% for three years and then grow at 3.96% thereafter.

A stock just paid a dividend of $1.07. The dividend is expected to grow at 23.95% for three years and then grow at 3.96% thereafter. The required return on the stock is 11.05%. What is the value of the stock?

Answer format: Currency: Round to: 2 decimal places.

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