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Reliable Motors shares are expected to pay dividends of $1.35, $1.05, and $1.70 at the end of each of the next three years, respectively. The

Reliable Motors shares are expected to pay dividends of $1.35, $1.05, and $1.70 at the end of each of the next three years, respectively. The investor expects the price of the shares at the end of this 3-year holding period to be $59.00. The investor's required rate of return is 15%. Calculate the current value of Reliable's shares.

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