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Today's date is August 1, 2022. Dudley's, Inc. (Dudley) stock is not publicly traded. However, Dudley's management is considering an initial public offering (IPO) of its common stock. After the IPO, Dudley will have outstanding 15 million shares of stock listed on the New York Stock Exchange (NYSE). The company has never paid a dividend. But, the company's management (and investors) expect the company to pay its first dividend of $1.50 per share on July 31,2028 , and to maintain that level of annual dividends forever (i.e., no change in dividend). Investors expect to earn a return of 10% per year on stocks such as Dudley. If the IPO were to occur today (August 1, 2022), the price per share would be