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Company X is expected to pay an end-of-year dividend of $3.60 a share. After the dividend is stock is expected to sell at $82. If

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Company X is expected to pay an end-of-year dividend of $3.60 a share. After the dividend is stock is expected to sell at $82. If the market capitalization rate is 12%, what is the current stock price? (Round your answer to 2 decimal places. Stock price

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