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(Common stock valuation) Sanford common stock is expected to pay $2.50 in dividends next year, and the market price is projected to be $49.15 per

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(Common stock valuation) Sanford common stock is expected to pay $2.50 in dividends next year, and the market price is projected to be $49.15 per share by year-end. If investors require a rate of return of 10 percent, what is the current value of the stock? The current value of the stock is (Round to the nearest cent )

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