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ABC Inc. will pay a constant dividend of $4.93 per share in perpetuity. The required rate of return on the company's stock is 10.7%. Investors

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ABC Inc. will pay a constant dividend of $4.93 per share in perpetuity. The required rate of return on the company's stock is 10.7%. Investors do not pay taxes on capital gains, however they do pay taxes on dividends. The dividend tax rate is 37.5%. What is the current price share? Your answer should be accurate to two decimal places. Answer: (28.80)

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