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Exacto, Inc. has just paid a $5.00 annual dividend on its common stock. The dividend...

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Finance

Exacto, Inc. has just paid a $5.00 annual dividend on its common stock. The dividend is expected to grow at a constant rate of 4% per year indefinitely. Based on market risk conditions and Exactos beta value, the required rate of return on Patriots stock is 10%. Calculate the current value of Exactos stock.

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