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PeteCorp's stock has a Beta of 1.20. Its dividend is expected to be $2.36 next year, and will grow by 3% per year after that

PeteCorp's stock has a Beta of 1.20. Its dividend is expected to be $2.36 next year, and will grow by 3% per year after that indefinitely. Assume the risk-free rate is 4%, and the Market Risk Premium is 8%. The stock price would currently be estimated to be $________.

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