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James is considering purchasing the stock of Coca Cola because he really loves its taste. What should he be willing to pay for Coca Cola

James is considering purchasing the stock of Coca Cola because he really loves its taste. What should he be willing to pay for Coca Cola today if it is expected to pay a $2 dividend in one year and he expects dividends to grow at 5 percent indefinitely? James requires a 12% return to make this investment.

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