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NoGrowth Corporation currently pays a dividend of $ 0 . 5 8 per quarter, and it will continue to pay this dividend forever. What is

NoGrowth Corporation currently pays a dividend of $

0.58

per quarter, and it will continue to pay this dividend forever. What is the price per share of NoGrowth stock if the firm's equity cost of capital is

18.47 % ?

The stock price is $

(

Round to the nearest cent.

)

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