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The required rate of return is 13 percent. Ninex Corp. has just paid a dividend of 3.12 and is expected to increase its dividend at

The required rate of return is 13 percent. Ninex Corp. has just paid a dividend of 3.12 and is expected to increase its dividend at a constant rate of 7 percent. What is the expected price of the stock? Round to 2 decimal points.

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