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Herring Fisheries plans to pay $0.54 per share in dividends in the coming year. If its equity cost of capital is 13%, and dividends are

Herring Fisheries plans to pay $0.54 per share in dividends in the coming year. If its equity cost of capital is 13%, and dividends are expected to grow by 5.3% per year in the future, what is the value of Herring's stock? Round to 2 decimal places

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