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Assume Hightine Company has just paid an annual dividend of 50.92 . Analyats are predicting an 10.0% per year growt rate in earnings over the

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Assume Hightine Company has just paid an annual dividend of 50.92 . Analyats are predicting an 10.0% per year growt rate in earnings over the next five years. After then, Highline's earnings are expected to grow at the ourrent infustry average of 5.4% per year. If Hightine's oquity cost of cagital is 8. 8% per year and its dividend payout ratio remains constant, for what price dons the dividend-discount model predkt Highline stock should sell? The value of Highline's stock is 9 (Round to the nearest cent)

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