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You are considering purchasing stock in Canyon Echo. You feel the company will increase its dividend at 3.3 percent indefinitely. The company just paid a

You are considering purchasing stock in Canyon Echo. You feel the company will increase its dividend at 3.3 percent indefinitely. The company just paid a dividend of $3.80 and you feel that the required return on the stock is 12.3 percent. What is the price per share of the company's stock?

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