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The common stock of Royal Ranch House is selling for $19.70. The firm pays dividends that are expected to grow at a rate of 4.10%

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The common stock of Royal Ranch House is selling for $19.70. The firm pays dividends that are expected to grow at a rate of 4.10% indefinitely. Your investment horizon is 8 years. What do you estimate the price of Royal Ranch House stock will be at that time? (Round your answer to 2 decimal places.) Stock price $ _________________

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