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The risk-free rate of return is 5% and the required rate of return on the market is 15%. A stock's Beta is 1.2, its expected
The risk-free rate of return is 5% and the required rate of return on the market is 15%. A stock's Beta is 1.2, its expected dividend per share in one year is $3.00, and its expected dividend growth rate is 5% in perpetuity. What is the stock's expected price per share today? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
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