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Waldo is about to purchase stock and requires a 14% return. If it is expected that in one year, a $2.97 dividend will be paid

Waldo is about to purchase stock and requires a 14% return. If it is expected that in one year, a $2.97 dividend will be paid and the dividends are expected to grow at 1% indefinitely, what should Waldo be willing to pay for the stock today?

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