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The risk-free rate is 2.80% and the market risk premium is 8.60%. A stock with a of 1.09 just paid a dividend of $2.80. The

The risk-free rate is 2.80% and the market risk premium is 8.60%. A stock with a of 1.09 just paid a dividend of $2.80. The dividend is expected to grow at 22.57% for five years and then grow at 4.34% forever. What is the value of the stock?

Answer format: Currency: Round to: 2 decimal places.

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