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Suppose the stock market is efficient and Loudon Stock will pay its next dividend of $6.55 exactly one year from now. After this first dividend,
Suppose the stock market is efficient and Loudon Stock will pay its next dividend of $6.55 exactly one year from now. After this first dividend, future dividends will grow at -4% for 2 years and then 3% per year every year thereafter. What is the best guess of Loudon's stock price today if the appropriate discount rate of 14.3%? Round your answer to the nearest penny.
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