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You are analyzing a stock. The company will pay a dividend of $2 in the next year (t=1). The company's dividend payout ratio is 73%.

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You are analyzing a stock. The company will pay a dividend of $2 in the next year (t=1). The company's dividend payout ratio is 73%. Your estimate of the discount rate for the stock is 8%. The current price of the stock is $60 per share. What is the value of the company represented by its growth opportunities? Hint: Dividend payout ratio = Dividends / Earnings Note: Write your answer with 2 or more decimal places

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