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(Common stock valuation) Mosser Corporation common stock paid $1.96 in dividends last year and is expected to grow indefinitely at an annual 6 percent rate.

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(Common stock valuation) Mosser Corporation common stock paid $1.96 in dividends last year and is expected to grow indefinitely at an annual 6 percent rate. What is the value of the stock if you require a return of 10 percent? The value of the Mosser Corporation common stock is S (Round to the nearest cent)

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