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( Constant growth model ) Hilliard Inc. just paid a $ 2 annual dividend on its common stock. The dividend is expected to increase 3

(Constant growth model)Hilliard Inc. just paid a $2 annual dividend on its common stock. The dividend is expected to increase 3.9% per year indefinitely. If the required rate of return is 7.1%, the stocks value $____________ next year.

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