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Investors expect Bozo Inc. to grow at a constant 5% indefinitely. If the next dividend is expected to be $5.68 and the required return is

Investors expect Bozo Inc. to grow at a constant 5% indefinitely. If the next dividend is expected to be $5.68 and the required return is 9.4%,

what is the market price of Bozo?

The market price of Bozo's stock is

$____. (Round to the nearest cent.)

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