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Required: The risk-free rate of return is 6%, the required rate of return on the market is 12%, and High-Flyer stock has a beta coefficient

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Required: The risk-free rate of return is 6%, the required rate of return on the market is 12%, and High-Flyer stock has a beta coefficient of 17. . If the dividend per share expected during the coming year, D1, is $2.80 and g=5%, at what price should a share sell? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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