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In one year, a company will pay its annual dividend of $2.07 per share. Then, the company will grow its dividends by 2 percent per

In one year, a company will pay its annual dividend of $2.07 per share. Then, the company will grow its dividends by 2 percent per year indefinitely. Investors require a 9 percent return. What is the current stock price? Answer to the nearest cent and do not include the $ sign. For example, if the price is $100.25, you should enter 100.25 as the answer.

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