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The risk - free rate is 2 . 9 7 % and the market risk premium is 9 . 2 3 % . A stock

The risk-free rate is 2.97% and the market risk premium is 9.23%. A stock with a of 1.79 just paid a dividend of $2.45. The dividend is expected to grow at 22.40% for three years and then grow at 3.56% forever. What is the value of the stock?
Answer format: Currency: Round to: 2 decimal places.
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