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You are considering the purchase of a new stock. The stock is expected to grow at 4.23% for the foreseeable future and next year's forecasted
You are considering the purchase of a new stock. The stock is expected to grow at 4.23% for the foreseeable future and next year's forecasted dividend (D1) is $2.5. The required return is 11.28%. Based on this, what is the value of the stock? Round calculations to the nearest cent.
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