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BRIC recently paid a dividend of $2.25 on its common stock, and the company is expected to increase the dividend by 3% each year going

BRIC recently paid a dividend of $2.25 on its common stock, and the company is expected to increase the dividend by 3% each year going forward. If the required rate of return for investors is 11%, what is your best estimate of the current price of BRICs common stock?

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