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ACME Technology is a global leader in data storage solutions and a high-yield dividend payer. From 2015 through 2019, ACME paid the following per-share dividends:
ACME Technology is a global leader in data storage solutions and a high-yield dividend payer. From 2015 through 2019, ACME paid the following per-share dividends:
Year Dividend per share
2019 $2.57
2018 $2.27
2017 $1.84
2016 $1.19
2015 $1.57
Assume that the historical annual growth rate of ACMEs dividends is an accurate estimate of the future constant annual dividend growth rate. Use a 21% required rate of return to find the value of ACMEs stock immediately after it paid its 2019 dividend of $2.57.
The value of Seagate's stock is $ ______.
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