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Ma&Son Company will pay out a dividend of $2.60 one year from today (i.e., D1 = 2.60). Its required rate of return is 11%. If

Ma&Son Company will pay out a dividend of $2.60 one year from today (i.e., D1 = 2.60). Its required rate of return is 11%. If the market expects that the dividend will grow at a constant rate of 3% per year forever, Ma&Son’s stock should sell for ____ $ today.

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