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Jasper, Inc. just paid an annual dividend of $10.00 per share. The next two annual...

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Finance

Jasper, Inc. just paid an annual dividend of $10.00 per share. The next two annual dividends are expected to grow 19% per year, and annual dividends thereafter are expected to grow at 3% per year, forever. If the firm's cost of equity capital is 13% per year, what should be the price today of one share of stock? Express your answer rounded and accurate to the nearest penny (i.e., two decimal places). Do not include a dollar sign.

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