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Nike stock has a beta of 1 . 2 . The risk - free rate is 3 . 9 % and the expected return on

Nike stock has a beta of 1.2. The risk-free rate is 3.9% and the expected return on the market portfolio is 9%. The company has just paid a quarterly dividend of $0.8. Dividends are expected to grow by 1.1% per quarter. What is the stock's value (in $)?

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