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One of the options is Delta Airlines. They have paid an annual dividend of $ 3 . 7 4 for the past 2 5 years

One of the options is Delta Airlines. They have paid an annual dividend of $3.74 for the past 25 years and we expect them to continue this indefinitely. Assuming the market requires a (n)11.5% return from Delta, what is the value of a share of stock? (Hint: Round intermediate calculations and answer to 2 decimal places)

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