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Schiller Corporation will pay a $2.98 per share dividend next year. The company pledges to increase its dividend by 5 percent per year, indefinitely. If

Schiller Corporation will pay a $2.98 per share dividend next year. The company pledges to increase its dividend by 5 percent per year, indefinitely. If you require a return of 14 percent on your investment, how much will you pay for the companys stock today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Stock price $

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