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(Common stock valuation) Mosser Corporation's common stock paid $1.14 in dividends last year and is expected to grow indefinitely at an annual 5 percent rate.

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(Common stock valuation) Mosser Corporation's common stock paid $1.14 in dividends last year and is expected to grow indefinitely at an annual 5 percent rate. What is the value of the stock if you require a return of 14 percent? The value of the Mosser Corporation's common stock is $ (Round to the nearest cent)

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