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ABC Inc expects to pay $ 1 . 5 4 in dividends next year and the dividends will grow at 7 . 4 % annually,

ABC Inc expects to pay $1.54 in dividends next year and the dividends will grow at 7.4% annually, indefinitely. The required rate of return on ABC stock is 10.7%. What is the current fair value of the stock?. Answers should go to two decimals

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