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Question 7 1 pts Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next 8 years

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Question 7 1 pts Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next 8 years because the firm needs to plow back its earnings to fuel growth. The company will pay a $10 per share dividend in 9 years and will increase the dividend by 3% per year thereafter. If the required return on this stock is 10%, what is the current share price? (Round answer to two decimal places.)

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