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Five Star Corporation will pay a dividend of $ 3 . 1 8 per share next year. The company pledges to increase its dividend by

Five Star Corporation will pay a dividend of $3.18 per share next year. The company pledges to increase its dividend by 5.5 percent per year indefinitely. If you require a return of 10 percent on your investment, how much will you pay for the company's stock today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.)
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