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JC Inc will pay dividends of $5.23 exactly one year from today and $5.14 exactly two years from today. After the second dividend, future dividends

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JC Inc will pay dividends of $5.23 exactly one year from today and $5.14 exactly two years from today. After the second dividend, future dividends will grow at a constant rate of 3% per year indefinitely. Using a discount rate of 10.7%, estimate a fair price for JC's stock. Round your answer to the nearest penny

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