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You find a stock with a beta of 1.4 that is expected to pay a dividend of $3.20 and grow that dividend at 5% annually.

You find a stock with a beta of 1.4 that is expected to pay a dividend of $3.20 and grow that dividend at 5% annually. If the risk-free rate is 3% and the expected market return is 8%, what should be the price of this stock?

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