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Addie's Cupcakes announced that next year's annual dividend will be $1.06, and that subsequent dividends will increase by 4.5 percent annually. Assuming a 10 percent

Addie's Cupcakes announced that next year's annual dividend will be $1.06, and that subsequent dividends will increase by 4.5 percent annually. Assuming a 10 percent required return, what should the price of this stock be today?

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