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The last dividend paid by Abbot Company was $3.29. Dividends are expected to grow at 14% for the next 2 years, then grow at a

The last dividend paid by Abbot Company was $3.29. Dividends are expected to grow at 14% for the next 2 years, then grow at a constant 2% indefinitely. If the required return is 5%, what should be the current stock price? The current stock price should be $nothing. (Round to the nearest cent.)

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