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Question Completion Status: You are evaluating a stock that just paid a dividend of S3.1. Dividends are expected to grow at a constant rate of

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Question Completion Status: You are evaluating a stock that just paid a dividend of S3.1. Dividends are expected to grow at a constant rate of 4.7% for long time into the future. The required rate of retum on the stock is 11.6%. What is the value of this stock? (round your answer to 2 decimal places, ignore the S sign in your answer)

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