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Crane Supplies Ltd. currently doesn't pay any dividends but is expected to start paying dividends in five years. The first dividend is expected to be

Crane Supplies Ltd. currently doesn't pay any dividends but is expected to start paying dividends in five years. The first dividend is expected to be $1 and is expected to grow at 4.7 percent thereafter. The required rate of return for the firm is 9 percent. What is Crane's current stock price?

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