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You expect a stock to pay a dividend of $4.51 exactly one year from now and future dividends to grow at a constant 2.3% every

You expect a stock to pay a dividend of $4.51 exactly one year from now and future dividends to grow at a constant 2.3% every year thereafter. If the stock's required rate of return is 11.3%, what do you expect the price to be one year from now, immediately after the first dividend is paid? Round your answer to the nearest penny.

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