[Solved] Assume Coleco pays an annual dividend of

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Assume Coleco pays an annual dividend of $1.51 and has a share price of $37.67. It announces that its annual dividend will increase to $1.79.

Assume Coleco pays an annual dividend of $1.51 and has a share price of $37.67. It announces that its annual dividend will increase to $1.79. If its dividend yield stays the same, what should be its new share price? The new price will be $. (Round to the nearest cent.)

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