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Garlic Galore, Inc. just paid a quarterly dividend of $0.30. Future dividends are forecast to grow at 1% per quarter, forever. If the firms equity

Garlic Galore, Inc. just paid a quarterly dividend of $0.30. Future dividends are forecast to grow at 1% per quarter, forever. If the firms equity cost of capital is 12% EAR, what should be the price of one share of stock?

Final answer should be $16.17

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