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Stacker Weight Loss currently pays an annual year-end dividend of $1.60 per share. It plans to increase this dividend by 3.5% next year and maintain

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Stacker Weight Loss currently pays an annual year-end dividend of $1.60 per share. It plans to increase this dividend by 3.5% next year and maintain it at the new level for the foreseeable future. If the required return on this firm's stock is 11%, what is the value of Stacker's stock? The value of Stacker's stock is $ (Round to the nearest cent.)

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