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ABC, Inc. is expected to pay dividends of $8.54 each year infinitely. If the required rate on the stock is 13.58%, what is today's price

ABC, Inc. is expected to pay dividends of $8.54 each year infinitely. If the required rate on the stock is 13.58%, what is today's price of the stock?

Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box.

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