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AMG Corp. is expected to pay a dividend of $2.38 per share next year. After that, dividends are expected to grow at a constant perpetual

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AMG Corp. is expected to pay a dividend of $2.38 per share next year. After that, dividends are expected to grow at a constant perpetual growth rate. The company retains 50% of its earnings and generates an ROE of 12% on its reinvested capital. If investors require 15% returns from this company's stock, what is the current stock price? Enter your answer without the $ sign, rounded to two decimal places

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