Stock PJ, which has a beta of 1.2, paid a dividend of $0.64 today. You...
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Stock PJ, which has a beta of 1.2, paid a dividend of $0.64 today. You believe that Stock PJ can sustainably increase its dividend by 3.4% per year. The risk-free rate is 4.0% per year and the market risk premium is 7.1%. According to these numbers and assumptions, what should the price of Stock PJ be today? Round to the nearest penny.
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