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Pharsalus Inc. just paid a dividend (i.e., DO) of $3.52 per share. This dividend is...

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Pharsalus Inc. just paid a dividend (i.e., DO) of $3.52 per share. This dividend is expected to grow at a rate of 5.3 percent per year forever. The appropriate discount rate for Pharsalus's stock is 11.9 percent. What is the price of the stock? (Round your answer to 2 decimal places and record your answer without dollar sign or commas). Your

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