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(Estimated time allowance: 5-6 minutes) You want to invest in a stock that pays $27 annual cash dividend for the next 8 years. At the

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(Estimated time allowance: 5-6 minutes) You want to invest in a stock that pays $27 annual cash dividend for the next 8 years. At the end of the 8 years, you will sell the stock for $67. If you want to earn 19% on this investment, what is a fair price for this stock, today? Show your answer to the nearest 2 decimals. Do not use the $ sign in your answer. For example, if the answer is $3.237 enter your answer as 3.24 Do not enter it as $3.237. $3.2, 3.2, or 3.237 Your

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