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Simokaitis Iron has never paid a dividend, but has long-range plans that call for a $1.70 annual dividend to be paid at the end of
Simokaitis Iron has never paid a dividend, but has long-range plans that call for a $1.70 annual dividend to be paid at the end of Year 4 that will grow at 1.00% from there. Investors require a 12.5 return on Simo Iron stock. What is one share worth? Answer in whole numbers, rounded to two decimal places.
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