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Mosser Corporation common stock paid $1.69 in dividends last year and is expected to grow indefinitely at an annual 5 percent rate. What is the

Mosser Corporation common stock paid $1.69 in dividends last year and is expected to grow indefinitely at an annual 5 percent rate. What is the value of the stock if you require a return of 11 percent?

The value of the Mosser Corporation common stock is ___________ (Round to the nearest cent.)

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