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expected to grow at the current industry averago of 5.4% per yoar. If Highline's equity cost of capitat is 7.8% per year and its dividend

expected to grow at the current industry averago of 5.4% per yoar. If Highline's equity cost of capitat is 7.8% per year and its dividend payout ratio remains constant, for what price doet the dividend-discount model predict Highline stock should sein? The value of Highline's stock is (Round to the nearest cent)

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