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Maria is considering purchasing the stock of Ceci Manufacturing. What should Maria be willing to pay for Ceci today if it is expected to pay

Maria is considering purchasing the stock of Ceci Manufacturing. What should Maria be willing to pay for Ceci

today if it is expected to pay a $2.97 dividend in one year and she expects dividends to grow at 1 percent

indefinitely? Maria requires a 14 percent return to make this investment. (Please round to the nearest cent and do not enter the dollar sign)

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