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CX Enterprises has the following expected dividends: $1.03 in one year, $1.23 in two years, and $1.33 in three years. After that, its dividends are

image text in transcribed CX Enterprises has the following expected dividends: $1.03 in one year, $1.23 in two years, and $1.33 in three years. After that, its dividends are expected to grow at 4.5% per year forever (so that year four's dividend will be 4.5% more than $1.33 and so on). If CX 's equity cost of capital is 11.9%, what is the current price of its stock? The price of the stock will be q (Round to the nearest cent.)

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