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Financial analysts forecast Limited Brands (LTD) growth rate for the future to be 8.5 percent. LTDs recent dividend was $0.40. What is the value of

Financial analysts forecast Limited Brands (LTD) growth rate for the future to be 8.5 percent. LTDs recent dividend was $0.40. What is the value of Limited Brands stock when the required return is 10.5 percent? (Round your answer to 2 decimal places.)

Value of Stock =

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