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Lohn Corporation is expected to pay the following dividends over the next four years: $ 1 3 , $ 1 0 , $ 7 ,

Lohn Corporation is expected to pay the following dividends over the next four years: $13, $10, $7, and $5. Afterward, the company pledges to maintain a constant 3 percent growth rate in dividends forever.
If the required return on the stock is 11 percent, what is the current share price?

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