A company just paid a dividend of 141 per share and you, Financial Management

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A company just paid a dividend of 141 per share and you

A company just paid a dividend of $1.41 per share and you expect the dividend to grow at a constant rate of 5.6% per year indefinitely into the future. If the required rate of return is 9.6% per year, what would be a fair price for this stock today? (Answer to the nearest penny per share.)

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