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Problem 8-20 Value a Constant GFowth Stock (LG8-5) Financial analysts forecast Limited Brands (LTD) growth rate for the future to be 10.5 percent. LTD's recent

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Problem 8-20 Value a Constant GFowth Stock (LG8-5) Financial analysts forecast Limited Brands (LTD) growth rate for the future to be 10.5 percent. LTD's recent dividend was $0.85. What is the value of Limited Brands stock when the required return is 12.5 percent? (Round your answer to 2 decimal places.)

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