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(Common stock valuation) Sanford common stock is expected to pay $1.85 in dividends next year, and the market price is projected to be $42 Next

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(Common stock valuation) Sanford common stock is expected to pay $1.85 in dividends next year, and the market price is projected to be $42 Next question ar-end. If investors require a rate of return of 11 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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