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You plan to buy common stock and hold it for one year. You expect to receive both $1.50 from dividends and $26 from the sale

You plan to buy common stock and hold it for one year. You expect to receive both $1.50 from dividends and $26 from the sale of the stock at the end of the year. If you were to lose a 15 percent rate of return, what is the price you would have had to pay for the stock today?

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