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P 7-13 (similar to) Question Help Summit Systems will pay a dividend of $1.49 this year. If you expect Summit's dividend to grow by 6.7%

P 7-13 (similar to) Question Help Summit Systems will pay a dividend of $1.49 this year. If you expect Summit's dividend to grow by 6.7% per year, what is its price per share if the firm's equity cost of capital is 11.5%? The price per share is $ . (Round to the nearest cent.)

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