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Downtown Motors Inc expects to pay common shareholders a dividend of $2.6 in one year and the dividends are then forecasted to grow at a

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Downtown Motors Inc expects to pay common shareholders a dividend of $2.6 in one year and the dividends are then forecasted to grow at a constant rate of 2.0%. If your required rate of return on the equity investment is to be 9.6%, how much would you be willing to pay for one share of Downtown Motors stock today? Enter your answer to 2 decimal places. $

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