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Constant growth valuation Thomas Brothers is expected to pay a $3.7 per share dividend at the end of the year (that is, D1 =

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Constant growth valuation Thomas Brothers is expected to pay a $3.7 per share dividend at the end of the year (that is, D1 = $3.7). The dividend is expected to grow at a constant rate of 3% a year. The required rate of return on the stock, rs, is 6%. What is the stock's current value per share? Round your answer to two decimal places. $

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