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GHL, Inc., has a dividend payout ratio of 55%. Its cost of equity is 10.6% and its dividend growth rate is 5.2%. If its forward

GHL, Inc., has a dividend payout ratio of 55%. Its cost of equity is 10.6% and its dividend growth rate is 5.2%. If its forward EPS is $5.78, what is your estimate of its stock price? The price per share is Round to the nearest cent.)

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