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(Related to Checkpoint 10.1) (Common stock valuation) Header Motor, Inc., paid a $2.62 dividend last year. At a constant growth rate of 5 percent, what

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(Related to Checkpoint 10.1) (Common stock valuation) Header Motor, Inc., paid a $2.62 dividend last year. At a constant growth rate of 5 percent, what is the value of the common stock if the investors require a 11 percent rate of return? The value of the common stock is $ (Round to the nearest cent)

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