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Question 7 2 pts PeteCorp's stock has a Beta of 1.30. Its dividend is expected to be $2.96 next year, and will grow by 7%

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Question 7 2 pts PeteCorp's stock has a Beta of 1.30. Its dividend is expected to be $2.96 next year, and will grow by 7% per year after that indefinitely. Assume the risk-free rate is 5%, and the Market Risk Premium is 7%. The stock price would currently be estimated to be $ Round your FINAL answer to 2 decimal places (example: 12.3456 = 12.35), but do NOT round any intermediate work. Margin of error for correct responses: +/- .05

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