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A stock just paid a dividend of $2.81. That number represents DO. Future dividends will grow at a constant 5% every year thereafter. If

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A stock just paid a dividend of $2.81. That number represents " DO". Future dividends will grow at a constant 5% every year thereafter. If the stock's required rate of return is 12.8%, what is a fair price for the stock todwy? Round your answer to the nearest penny

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