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Sand Point Corporation's common stock recently paid a dividend of $1.23. Investors require a 16% rate of return on this stock. Sand Point earns a

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Sand Point Corporation's common stock recently paid a dividend of $1.23. Investors require a 16% rate of return on this stock. Sand Point earns a 20% return on equity. The firm pays 35% of its earnings as dividends, and reinvests 65% of earnings in the form. What is the value of the stock

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