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Three Corners Markets paid an annual dividend of $ 1 . 8 2 a share last month. Today, the company announced that future dividends will

Three Corners Markets paid an annual dividend of $1.82 a share last month. Today, the company announced that future dividends will be increasing by 2.4 percent annually. If you require a return of 11.5 percent, how much are you willing to pay to purchase one share of this stock today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.)

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