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A stock pays annual, fixed dividends of $21 forever. Assuming a required rate of return of 14%, what is the value of the stock?
A stock pays annual, fixed dividends of $21 forever. Assuming a required rate of return of 14%, what is the value of the stock? Note: Show your answer in units of dollars, use plain numbers with at least two digits after the decimal (e.g., for $12,345.67, type 12345.67).
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