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P 7-11 (similar to) Question Help NoGrowth Corporation currently pays a dividend of $0.46 per quarter, and it will continue to pay this dividend forever.

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P 7-11 (similar to) Question Help NoGrowth Corporation currently pays a dividend of $0.46 per quarter, and it will continue to pay this dividend forever. What is the price per share of NGrowth stock if the firm's equity cost of capital is 14.5%? The stock price is (Round to the nearest cent.)

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