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JP Inc. does not plan to pay dividends for the next 10 years. The company plans to pay a dividend of $5 per share in

JP Inc. does not plan to pay dividends for the next 10 years. The company plans to pay a dividend of $5 per share in Year 11. Beyond that, the dividends are expected to grow at a constant rate of 3%. . What is the current share price if the required return on this stock is 10 percent?

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