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The Jackson-Timberlake Wardrobe Co just paid a dividend of 31.10 per share on its stock. The dividends are expected to grow at a constant rate

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The Jackson-Timberlake Wardrobe Co just paid a dividend of 31.10 per share on its stock. The dividends are expected to grow at a constant rate of 3.5% per year indefinitely. Investors require a return of 9.1% on the company's stock. What is the current stock price? (Round your finale to two decimal places.)

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