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Consider a firm that had been priced using an 11 percent growth rate and a 13 percent required return. The firm recently paid a $1.80

Consider a firm that had been priced using an 11 percent growth rate and a 13 percent required return. The firm recently paid a $1.80 dividend. The firm just announced that because of a new joint venture, it will likely grow at an 11.5 percent rate. How much should the stock price change (in dollars and percentage)? (Round your answers to 2 decimal places.)

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