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You own shares of stock in DVDLand Inc. Sales and dividends have been flat recently and you expect them to begin falling soon. The firm

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You own shares of stock in DVDLand Inc. Sales and dividends have been flat recently and you expect them to begin falling soon. The firm just paid a $7.50 dividend. You expect the dividends to remain unchanged for the next two years and then begin falling by 6% per year indefinitely. The required rate of return for DVDLand is 10%. What is a share of stock worth today? Round your answer to two decimals

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