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Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next 9 years because the firm needs

Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next 9 years because the firm needs to plow back its earnings to fuel growth. The company will pay a $13 per share dividend in 10 years and will increase the dividend by 6 percent per year thereafter. If the expected return on this stock is 10 percent, the current share price is $______

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