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Nike just paid its annual dividend of $2.14 per share. You believe Nike's dividends will decrease at a rate of 2.0% per year going forward.

Nike just paid its annual dividend of $2.14 per share. You believe Nike's dividends will decrease at a rate of 2.0% per year going forward. Based on your research you estimate, an appropriate discount rate for Nike is 6.2%. Using the DDM, what is fair price for a share of Nike?

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