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Suppose the current dividends on a stock are $4.5 per share and dividends are expected to increase by 2% per year, forever. If the required

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Suppose the current dividends on a stock are $4.5 per share and dividends are expected to increase by 2% per year, forever. If the required rate of return is 7%, what is the value of the stock? (round your answer to 2 decimal places)
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