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XYZ, Inc. just paid dividend of $7.52. The dividends are expected to grow at 7.85% each year forever. The required rate of return on the

XYZ, Inc. just paid dividend of $7.52. The dividends are expected to grow at 7.85% each year forever. The required rate of return on the stock is 23.08%. 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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