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Yesterday, Michelin paid a dividend of $2.0 (D0). You are considering buying Michelin stock today. Your required rate of return for their equity is 9%

Yesterday, Michelin paid a dividend of $2.0 (D0). You are considering buying Michelin stock today. Your required rate of return for their equity is 9% (r). You expect that their dividend will grow at 4% per year (g). Assume that dividends are paid annually. According to the Dividend Discount Model, what should be the price per share of Michelin

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