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Peabody Stock will pay a dividend of $ 4 . 5 0 , $ 7 . 2 5 , and $ 9 . 4 5

Peabody Stock will pay a dividend of $4.50, $7.25, and $9.45 per share for each of the next
three years, respectively. The company will then close its doors. If investors require a return
of 8.5 percent on the company's stock, what is the stock price?

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