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Consider a stock that will have price of$53.08 one year from now and pay a dividend of$3.12 in one year. The expected rate of return

Consider a stock that will have price of$53.08 one year from now and pay a dividend of$3.12 in one year. The expected rate of return is 11.1%. What is the current price of the stock?

Enter your response belowrounded to2 DECIMAL PLACES.

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