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A stock will pay dividends of $1, $4, and $8 over the next three years, and then increase dividends at a rate of 8% afterwards.

A stock will pay dividends of $1, $4, and $8 over the next three years, and then increase dividends at a rate of 8% afterwards. Its required rate of return is 16%. What is the value of the stock? Round to the penny

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