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If Granite Mercantile just paid an annual dividend of $2.5 a share, expects to pay dividends forever and expects to increase the dividend by 3

If Granite Mercantile just paid an annual dividend of $2.5 a share, expects to pay dividends forever and expects to increase the dividend by 3 percent annually. Stocks similar to Granite Mercantile have an expected return of 11.3 percent. What is the current value of this stock?

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