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You are considering purchasing stock in Nolo Bed & Breokfast. The company has indicated that it will increase its dividend at 2.8 percent indefinitely. The

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You are considering purchasing stock in Nolo Bed \& Breokfast. The company has indicated that it will increase its dividend at 2.8 percent indefinitely. The compony just poid a dividend of $2.50 and your required return on the stock is 11.8 percent. What is the price per share of the company's stock? Round to the nearest penny Numench Response

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