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GM is expected to pay a dividend of $2.00 in the coming year. Dividends are expected to grow at the rate of 2% per year.

GM is expected to pay a dividend of $2.00 in the coming year. Dividends are expected to grow at the rate of 2% per year. The risk-free rate is 4% and the market risk premium is 5%. GM has a beta of 1.2. Calculate the value of stock.

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