Calculate the value of a share today

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Reference no: EM131613893

Nettle Inc. does not plan to pay a dividend for the next 5 years. Exactly 6 years from today, the company will pay a dividend of $4.91 per share. Investors expect future dividends to grow at a constant rate of 3%, and they require a 7% return on their investment. Calculate the value of a share today (price). (Round to 3 decimals)

Reference no: EM131613893

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