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If the required rate of return on Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) stock is 6.6% and the growth rate of the recent USD 2.85

If the required rate of return on Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) stock is 6.6% and the growth rate of the recent USD 2.85 annual dividend is expected to be 3.5%/year.

Calculate the value of TSM stock using the Gordon growth model.

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