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Gen Lab is expected to pay out a dividend of $0.25 per share in one year. The expected stock price in one year is $34

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Gen Lab is expected to pay out a dividend of $0.25 per share in one year. The expected stock price in one year is $34 per share and the required return on the stock (also known as the cost of equity or the equity cost of capital) is 8%. What is the value of the stock today? Round your answer to two decimal places

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