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You purchase a share of VMC common stock, which will pay a dividend of $ 2 . 8 5 in one year, $ 3 .

You purchase a share of VMC common stock, which will pay a dividend of $2.85 in one year, $3.10 a year later, and $3.25 the next year, at which you will sell the share for $40.25. If you discount the cash flow at 8.40%, then the current price, rounded to the nearest cent, of VMC common stock is $ q,
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