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BioScience Inc. will pay a common stock dividend of $2.90 at the end of the year ( D 1 ). The required return on common

BioScience Inc. will pay a common stock dividend of $2.90 at the end of the year (D₁). The required return on common stock (K_e) is 15 percent. The firm has a constant growth rate (g) of 6 percent.

Compute the current price of the stock (P₀).(Do not round intermediate calculations. Round your answer to 2 decimal places.)

Current price

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