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PeteCorp's stock has a Beta of 1.20 . Its dividend is expected to be $2.33 next year, and will grow by 7% per year after

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PeteCorp's stock has a Beta of 1.20 . Its dividend is expected to be $2.33 next year, and will grow by 7% per year after that indefinitely. Assume the risk-free rate is 3%, and the Market Risk Premium is 7%. The stock price would currently be estimated to be $ Round your FINAL answer to 2 decimal places (example: 12.3456=12.35 ), but do NOT round any intermediate work. Margin of error for correct responses: +/.05

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