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A stock just paid dividends of $2.73 per share. Those dividends are expected to grow at a constant rate of 4 percent per year in

A stock just paid dividends of $2.73 per share. Those dividends are expected to grow at a constant rate of 4 percent per year in perpetuity. If investor's required rate of return on the stock is 11 percent, how much is the stock worth today?

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