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Your mother gifted you shares of Homegoods Corp. and you are now interested in selling them. With so many people streaming music these days, sales,

Your mother gifted you shares of Homegoods Corp. and you are now interested in selling them. With so many people streaming music these days, sales, profits, and dividends at Homegoods Corp. have been declining at 6 percent per year. The firm just paid a dividend of $1.15 per share. The required rate of return for a stock this risky is 15 percent. If dividends are expected to decline at 6 percent per year, what is a share of the stock worth today? (Round your answer to the nearest whole cent.)

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