Sees no growth in it for the foreseeable future

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Reference no: EM13885126

Xinhua Manufacturing Company has been generating stable revenues but sees no growth in it for the foreseeable future. The company's last dividend was $3.25, and it is unlikely to change the amount paid out. If the required rate of return is 12 percent, what is the stock worth today? (Round to the nearest dollar.)

Reference no: EM13885126

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