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Suppose a REIT pays out a dividend today of $4.25 and the projected dividend growth rate is 3.5%. The investor has a required rate of

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Suppose a REIT pays out a dividend today of $4.25 and the projected dividend growth rate is 3.5%. The investor has a required rate of retum/discount rate of 8.0%. According to the Gordon dividend discount model, what is the REITs stock worth today to two decimal places

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