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BioScience Inc. will pay a common stock dividend of $6.80 at the end of the year (D1). The required return on common stock (Ke) is

BioScience Inc. will pay a common stock dividend of $6.80 at the end of the year (D1). The required return on common stock (Ke) is 15 percent. The firm has a constant growth rate (g) of 5 percent. Compute the current price of the stock (Po). (Do not round intermediate calculations. Round your answer to 2 decimal places.) Current price

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