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Cape Corporation will pay a dividend of $ 4 . 6 4 next year. The company has stated that it will maintain a constant growth

Cape Corporation will pay a dividend of $4.64 next year. The company has stated that it will maintain a constant growth rate of 5.6 percent forever. If an investor wants a return of 9 percent, how much will the investor pay for the stock? Round up your answer to two decimal places.
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