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(Common stock valuation) Mosser Corporation's common stock paid $2.88 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 $2.88 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 13 percent? The value of the Mosser Corporatiori's common stock is 5 (Round to the nearest cent.)

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