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Wakon Company earned $4.45 per share and paid dividends of $1.11 per share. The company reported a dividend yield of 3 percent. What was the

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Wakon Company earned $4.45 per share and paid dividends of $1.11 per share. The company reported a dividend yield of 3 percent. What was the price of Wakon's stock? (Round your answers to 2 decimal places.)

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