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XYZ , Inc. just paid dividend of $ 1 1 . 2 8 . The dividends are expected to grow at 3 . 9 3

XYZ

,

Inc. just paid dividend of $

11.28 .

The dividends are expected to grow at

3.93 %

each year forever. The required rate of return on the stock is

17.85 % .

What is today's price of the stock?

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