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Storico Co. just paid a dividend of $2.25 per share. The company will increase its dividend growth rate by 5 percent points per year until

Storico Co. just paid a dividend of $2.25 per share. The company will increase its dividend growth rate by 5 percent points per year until it reaches the industry average of 5 percent dividend growth, after which the company will keep a constant growth rate forever. If the required return on Storico stock is 12 percent, what will a share of stock sell for today?

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