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Microsoft Corp. will pay a dividend of $3.22 per share next year.Investors anticipate that the annual dividends will grow by 1% per year forever, and

Microsoft Corp. will pay a dividend of $3.22 per share next year.Investors anticipate that the annual dividends will grow by 1% per year forever, and they require a 7% discount rate.Calculate the value of the stock.(Round to 2 decimals)

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