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Pharsalus Inc. just paid a dividend of $1.78 per share. This dividend is expected to grow at a rate of 7.4 percent per year forever.

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Pharsalus Inc. just paid a dividend of $1.78 per share. This dividend is expected to grow at a rate of 7.4 percent per year forever. The appropriate discount rate for Pharsalus's stock is 11.6 percent. What is the price of the stock? Enter your answer to the nearest penny. Do not use the $ sign in your answer. Your

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