Cease paying dividends forever

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Apocalyptica Corp. pays a constant $29 dividend on its stock. The company will maintain this dividend for the next 6 years and will then cease paying dividends forever. If the required return on this stock is 11 percent, the current share price is $ . (Do not include the dollar sign ($). Round your answer to 2 decimal places. (e.g., 32.16))

Reference no: EM131838730

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