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If the required return is 8%, the growth rate of dividends is constant at 3.5% and the most recent dividend is $1.45. What is the

If the required return is 8%, the growth rate of dividends is constant at 3.5% and the most recent dividend is $1.45. What is the current value of the stock? (Keep at least three decimals and round to the nearest hundredth).

Calculate Using the Gordon Growth Model.

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