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The risk-free rate is 3.16% and the market risk premium is 5.82%. A stock with...

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Finance

The risk-free rate is 3.16% and the market risk premium is 5.82%. A stock with a of 1.75 just paid a dividend of $1.20. The dividend is expected to grow at 21.43% for five years and then grow at 4.61% forever. What is the value of the stock?

Round to 2 decimal places.

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