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Assume Highline Company has just paid an annual dividend of $1.01. Analysts are predicting an 10.7% per year growth rate in earnings over the next

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Assume Highline Company has just paid an annual dividend of $1.01. Analysts are predicting an 10.7% per year growth rate in earnings over the next five years. After then, Highline's eamings are expected to grow at the current industry average of 5.2% per year. If Highlineb equity cost of capial is 8.7% per year and its dividend payout tatio remains constant, for what price does the dividend-6scount model predict Highline stock should seli? The value of Highline's stock is $0. (Round to the nearest cent)

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