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Nate's Great Steaks and Shakes, Inc. is a mature firm that pays a quarterly dividend. The firm just paid a quarterly dividend of $1.00 and
Nate's Great Steaks and Shakes, Inc. is a mature firm that pays a quarterly dividend. The firm just paid a quarterly dividend of $1.00 and the next dividend will be paid a quarter from today. Investors expect Nate's to increase its dividend by 1% every quarter, forever. Using the CAPM, you have estimated that the annual required return of the stock is 10.381%. What should the stock price be today? Round your final answer to one decimal place (e.g., 50.1) and ENTER YOUR ANSWER WITHOUT A DOLLAR SIGN
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