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Trident Automotive is expected to pay a dividend of $7.20 next year (D1). The dividend is expected to increase by 2% annually and investors who

Trident Automotive is expected to pay a dividend of $7.20 next year (D1).

The dividend is expected to increase by 2% annually and investors who own stock in similar firms require a return of 8%.

What is the value of the firms stock?

Round your answer to 2 decimal places. (For example 2.437 = 2.44)

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