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Suppose that the current year dividend is $3.3, the discount rate is 0.6 and dividend growth rate is 0.14. Using the dividend discount model, compute

Suppose that the current year dividend is $3.3, the discount rate is 0.6 and dividend growth rate is 0.14.

Using the dividend discount model, compute the intrinsic value of this stock. Round your answer to two decimal places. Do not type "$" in your answer.

For example, if your answer is $23.456, type 23.46

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