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AT&T plans to pay $2.08 per share in dividends in the coming year. If its equity cost of capital is 8%. Dividends are expected to

AT&T plans to pay $2.08 per share in dividends in the coming year. If its equity cost of capital is 8%. Dividends are expected to grow by 3% per year in the future. Estimate the value of AT&Ts stock.

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