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XYZ, Inc. is expected to pay a dividend of $9.39. The dividends are expected to grow at 1.69% each year forever. The required rate of

XYZ, Inc. is expected to pay a dividend of $9.39. The dividends are expected to grow at 1.69% each year forever. The required rate of return on the stock is 22.07%. What is today's price of the stock?

Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box.

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