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NU Inc. is expected to pay a dividend of $4 every year in the next 5 years. NU always maintains a dividend payout ratio of

NU Inc. is expected to pay a dividend of $4 every year in the next 5 years. NU always maintains a dividend payout ratio of 10% and has an average PE ratio of 16. The required return is 8%. What is the stock price? (Keep two decimal places)

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