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You are investing in a share of stock. The share will pay a dividend of $ 4 . 6 5 at the end of the

You are investing in a share of stock. The share will pay a dividend of $4.65 at the end of the first year. The dividend is expected to grow forever at a rate of 3.77% per year. You require a 11.66% rate of return on the stock investment. What is a fair price (or, value) for this share of stock?

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