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(CH7 Problem 15) Jane, Inc. is a young start-up company. No dividends will be paid on the stock over the next 8 years, because the

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(CH7 Problem 15) Jane, Inc. is a young start-up company. No dividends will be paid on the stock over the next 8 years, because the firm needs to plow back its earnings to fuel growth. The company will then pay a dividend of $13.50 per share 9 years from today and increase the dividend by 5.7 percent per year thereafter. If the required return on this stock is 17.7 percent, what is the current share price? Do not round intermediate computations. Round your answer to the nearest penny

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