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Constant growth valuation Thomas Brothers is expected to pay a $1.7 per share dividend at the end of the year (that is, D 1 =

Constant growth valuation

Thomas Brothers is expected to pay a $1.7 per share dividend at the end of the year (that is, D1 = $1.7). The dividend is expected to grow at a constant rate of 5% a year. The required rate of return on the stock, rs, is 15%. What is the stock's current value per share? Round your answer to two decimal places.

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