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Brash Corporation initiated a new corporate strategy that fixes its annual dividend at $2.92 per share forever. If the risk-free rate is 4.3% and the

Brash Corporation initiated a new corporate strategy that fixes its annual dividend at $2.92 per share forever. If the risk-free rate is 4.3% and the risk premium on Brash's stock is 11.6%, what is the value of Brash's stock?

The value of Brash's stock is: (Round to the nearest cent.)

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