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Summit Systems will pay a dividend of $1.67 this year. If you expect Summit's dividend to grow by 5.7% per year, what is its price

Summit Systems will pay a dividend of $1.67 this year. If you expect Summit's dividend to grow by 5.7% per year, what is its price per share if the firm's equity cost of capital is 11.6%?

The price per share is $_______. (Round to the nearest cent.)

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