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What is the estimated current price of a share of ABC Company stock based on the Dividend Discount Model? The annual required rate of return

What is the estimated current price of a share of ABC Company stock based on the Dividend

Discount Model? The annual required rate of return is

13.1 % .

ABC just paid their annual

dividend of $

6.08

a share and the expected growth rate of the dividend is

5 %

per year.

Answer to the nearest penny.

Answer:

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