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DrewsCorp's stock has a Beta of 1.25. Its dividend is expected to be $2.35 next year, and will grow by 3% per year after that

DrewsCorp's stock has a Beta of 1.25. Its dividend is expected to be $2.35 next year, and will grow by 3% per year after that indefinitely. Assume the risk-free rate is 3%, and the Market Risk Premium is 8%. The stock price would currently be estimated to be $________. Round your FINAL answer to 2 decimal places

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