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XYZ, Inc. is expected to pay a dividend of $1.26. The dividends are expected to grow at 8.84% each year forever. The required rate of

XYZ, Inc. is expected to pay a dividend of $1.26. The dividends are expected to grow at 8.84% each year forever. The required rate of return on the stock is 12.72%. What is today's price of the stock?

Enter your answer rounded off to two decimal points.

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