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Summit Systems will pay an annual dividend of $1.50 this year. If you expect Summit's dividend to grow by 6% per year, what is its

Summit Systems will pay an annual dividend of $1.50 this year. If you expect Summit's dividend to grow by 6% per year, what is its price per share if the firm's equity cost of capital is 11% ? The price per share is $ (Round to the nearest cent.)

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