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A stock will pay a dividend of $1.2 exactly one year from now. Future dividends will grow at a constant 2.1% every year thereafter and
A stock will pay a dividend of $1.2 exactly one year from now. Future dividends will grow at a constant 2.1% every year thereafter and the stock's required rate of return is 10.4%. If the current price is $23.89, what is the Net Present Value (NPV) of purchasing one share of stock today? Round your answer to the nearest penny.
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