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The risk-free rate is 4.00% and the market risk premium is 5.44%. A stock with a of 1.20 just paid a dividend of $2.71. The

The risk-free rate is 4.00% and the market risk premium is 5.44%. A stock with a of 1.20 just paid a dividend of $2.71. The dividend is expected to grow at 21.73% for three years and then grow at 3.13% forever. What is the value of the stock? Round to two decimal places.

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