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The market's required rate of return is 7.25% for stock ABC. The market expects a dividend of $2.50 to be paid one year from today.

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The market's required rate of return is 7.25% for stock ABC. The market expects a dividend of $2.50 to be paid one year from today. In subsequent years dividends of $2.60,$3.70,$4.00, and $4.80 are expected. Thereafter dividends are expected to grow by 2.5%. What is the price valuation for this stock today? Provide your answer to 2 decimals, for example 34.45. Your

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