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Hailey Corporation pays a constant $7.55 dividend on its stock. The company will maintain this dividend for the next 15 years and will then cease

Hailey Corporation pays a constant $7.55 dividend on its stock. The company will maintain this dividend for the next 15 years and will then cease paying dividends forever. If the required return on this stock is 11 percent, what is the current share price?

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