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Bookmatch 8-15 (book/static) Question Help (Common stock valuation) Santord common stock is expected to pay $1.85 in dividends next year, and the market price is

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Bookmatch 8-15 (book/static) Question Help (Common stock valuation) Santord common stock is expected to pay $1.85 in dividends next year, and the market price is projected to be $42.50 per share by year-end. If investors require a rate of return of 11 percent, what is the current value of the stock? The current value of the stock is $. (Round to the nearest cent.)

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