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Assume Evco, Inc. has a current stock price of $52.23 and will pay a $1.80 dividend in one year; its equity cost of capital is

Assume Evco, Inc. has a current stock price of $52.23 and will pay a $1.80 dividend in one year; its equity cost of capital is 16%. What price must you expect Expo stock to sell for immediately after the firm pays the dividend in one year to justify its current price? (Round to nearest cent

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