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Antiques R Us is a mature manufacturing firm. The company just paid a dividend of $ 9 . 9 0 , but management expects to

Antiques R Us is a mature manufacturing firm. The company just paid a dividend of $9.90, but management expects to reduce the payout by 5 percent per year indefinitely. If you require a return of 14 percent on this stock, what will you pay for a share today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.)
Current share price $

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