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Question 3(1 point) The Black Forest Cake Company just paid an annual dividend of $7.60. If you expect a constant growth rate of 4.74 percent,

Question 3(1 point)

The Black Forest Cake Company just paid an annual dividend of $7.60. If you expect a constant growth rate of 4.74 percent, and have a required rate of return of 9.91 percent, what is the current stock price according to the constant growth dividend model?

Round the answer to two decimal places.

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