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GHL, Inc., has a dividend payout ratio of 45%. Its cost of equity is 10.8% and its dividend growth rate is 4.8%. If its forward

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GHL, Inc., has a dividend payout ratio of 45%. Its cost of equity is 10.8% and its dividend growth rate is 4.8%. If its forward EPS is $6.03, what is your estimate of its stock price? The price per share is $ (Round to the nearest cent.)

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