The current price of the stock should be

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Reference no: EM131517067

A firm's earnings and dividends are expected to decline at a constant rate of 7% per year. The most recent dividend (Div0) was $4.5 and the required return on the stock is 10%. The current price of the stock should be $__________. Do not round any intermediate work, but round your final answer to 2 decimal places (ex: 12.34567 should be entered as 12.35).

Reference no: EM131517067

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