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Assume Coleco pays an annual dividend of $1.57 and has a share price of $39.25. It announces that its annual dividend will increase to $1.82.

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Assume Coleco pays an annual dividend of $1.57 and has a share price of $39.25. It announces that its annual dividend will increase to $1.82. If its dividend yield is to stay the same, what should its new share price be? The new share price should be $. (Round to the nearest cent.)

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