A stock pays a constant dividend of $4/shareevery quarter(every 3 months) and a dividend was just paid.
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A stock pays a constant dividend of $4/shareevery quarter(every 3 months) and a dividend was just paid. If the market's required return on this stock is13% PER YEAR, what is the market value of the stock?[Express your final answer in dollars and cents (rounded to 2 decimal places)]
Market Value = $______per share
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