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The Bryant Corporation is expected to pay a $3.50 dividend next year. Future dividends are expected to grow at a constant rate of 3.75%. Investors

The Bryant Corporation is expected to pay a $3.50 dividend next year. Future dividends are expected to grow at a constant rate of 3.75%. Investors require a 15.75% return on the stock. Calculate the current market value for a share of Bryant common stock.

Express your answer in dollars AND cents. Do not include a dollar sign.

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