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GDL just paid a dividend of $4 per share. Investors expect the company's dividends to grow at a constant rate of 3% per year, and

GDL just paid a dividend of $4 per share. Investors expect the company's dividends to grow at a constant rate of 3% per year, and they require a 12% return to invest in the stock. What is the expected price of GDL 1 year from now? Answer to 2 decimals places, for example 100.12.

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