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Sedge Inc. has a 13% required rate of return. It does not expect to pay dividends for seven years. At year 8, it will pay

Sedge Inc. has a 13% required rate of return. It does not expect to pay dividends for seven years. At year 8, it will pay a $2.00 per share dividend. At that time, Sedge Inc. expects its dividend to grow at 7% per year forever. Calculate the stock price now.

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