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Dora Trading Co plans to pay a dividend in year 3 of $0.59. The dividend is expected to grow at a constant rate of 4%

Dora Trading Co plans to pay a dividend in year 3 of $0.59. The dividend is expected to grow at a constant rate of 4% forever.

An investor requires a return of 12%.

How much is the share worth today ? Ignore $ sign in your answer and round your answer to TWO decimal places.

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