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Question 16 of 27 Question 16 2 points Save Answe Suppose the current dividends on a stock are $4.7 per share and dividends are expected

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Question 16 of 27 Question 16 2 points Save Answe Suppose the current dividends on a stock are $4.7 per share and dividends are expected to increase by 3% per year, forever. If the required rate of return is 7%, what is the value of the stock? (round your answer to 2 decimal places) Expand Engagement Activity Group 1

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