Pharsalus Inc. just paid a dividend (i.e., D0) of $ 0.66 per share. This dividend is expected
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Question:
Pharsalus Inc. just paid a dividend (i.e., D0) of $ 0.66 per share. This dividend is expected to grow at a rate of 5.0 percent per year forever. The appropriate discount rate for Pharsalus's stock is 11.6 percent. What is the price of the stock?(Round your answer to 2 decimal places and record your answer without dollar sign or commas).
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