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You have invested in the stock of Kane Enterprises efficiently priced by the capital asset pricing model with a beta of 1.10. The stock is

You have invested in the stock of Kane Enterprises efficiently priced by the capital asset pricing model with a beta of 1.10. The stock is expected to pay a fixed dividend of $2 over the foreseeable future. If the treasury bill rate is currently 2% and the market risk premium is 6%. Calculate the price of the stock.

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