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Synovec Corporation is expected to pay the following dividends over the next four years: $5.30, $16.30, $21.30, and $3.10. Afterward, the company pledges to maintain
Synovec Corporation is expected to pay the following dividends over the next four years: $5.30, $16.30, $21.30, and $3.10. Afterward, the company pledges to maintain a constant 5.75 percent growth rate in dividends forever. If the required return on the stock is 8 percent, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Share price
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