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Beecham Inc. is expected to pay an annual dividend of $1.29 per share in the coming year and to trade for $30.65 per share at

Beecham Inc. is expected to pay an annual dividend of $1.29 per share in the coming year and to trade for $30.65 per share at the end of the year. If the equity cost of capital is 7%, what will you pay for Beechams stock today?

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