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Pro Build Inc. has had a net income of $16 million in its most recent year. Net income is expected to grow by 3% per

Pro Build Inc. has had a net income of $16 million in its most recent year. Net income is expected to grow by 3% per year.

The firm always pays out 60% of net income as dividends and has 3 million shares of common stock outstanding. The required return is 14%.

Attempt 1/3 for 10 pts.

Part 1

What is the current stock price?

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