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Joker stock has a sustainable growth rate of 9 percent, ROE of 11 percent, and dividends per share of $1.25. If the P/E ratio is

Joker stock has a sustainable growth rate of 9 percent, ROE of 11 percent, and dividends per share of $1.25. If the P/E ratio is 16.0, what is the value of a share of stock? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)

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