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OwenInc has a current stock price of $13.10 and is expected to pay a $0.70 dividend in one year. If OwenInc's equity cost of capital

OwenInc has a current stock price of

$13.10

and is expected to pay a

$0.70

dividend in one year. If OwenInc's equity cost of capital is

12%,

what price would OwenInc's stock be expected to sell for immediately after it pays the dividend?

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