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(Common stock valuation) Herrera Motor Inc. paid a $2.75 dividend last year. At a constant growth rate of 6 percent, what is the value of

(Common stock valuation) Herrera Motor Inc. paid a $2.75 dividend last year. At a constant growth rate of 6 percent, what is the value of the common stock if the investors require a rate of return of 21 percent?

The value of the Herrera Motor common stock is $ _______________ . (Round to the nearest cent.)

13.10

19.43

45.83

18.33

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