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The Island Tourist Company, Inc. just paid a dividend of $2.75 per share, and that dividend is expected to grow at a constant rate of

The Island Tourist Company, Inc. just paid a dividend of $2.75 per share, and that dividend is expected to grow at a constant rate of 3.50% per year in the future.The company's required rate of return on the stock is 12.00%.At what price should the company's stock sell?

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