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You own a share of stock that is expected to pay a dividend of $3.97 in 2 years and a dividend of $6.05 in 8
You own a share of stock that is expected to pay a dividend of $3.97 in 2 years and a dividend of $6.05 in 8 years. After that, the annual dividends are expected to be paid that grow at an annual rate of 1.0%. If the rate of return is expected to be 9.8%, then what is the price of the share today? (Round to the nearest cent.)
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