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Stagnant Iron and Steel currently pays a $ 9 . 5 5 annual cash dividend ( D 0 ) . They plan to maintain the

Stagnant Iron and Steel currently pays a $9.55 annual cash dividend (D0)
. They plan to maintain the dividend at this level for the foreseeable future as no future growth is anticipated.
If the required rate of return by common stockholders (Ke)
is 13 percent, what is the price of the common stock?
Note: Do not round intermediate calculations. Round your answer to 2 decimal places. PLEASAE HELP ME GET THE ANSWER AND SHOW YOUR WORK SO I CAN UNDERSTAND HOW

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