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Company Y just paid an annual dividend of $.50 a share on its common stock and is expected to increase that dividend by 3.5 percent

Company Y just paid an annual dividend of $.50 a share on its common stock and is expected to increase that dividend by 3.5 percent per year for the foreseeable future. If the discount rate on Company Y is 7.5 percent, what is the current price of the stock?

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