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You are investing in a share of stock. The share just paid a dividend of $ 7 . 4 6 . The dividend has been

You are investing in a share of stock. The share just paid a dividend of $7.46. The dividend has been growing and is expected to grow forever at a rate of 5.26% per year. You require a 12.89% rate of return on the stock investment. What would be a fair price/share in 8 years?
(Answer to nearest $0.01)
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