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What is the current price of hubbard common stock

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Hubbard Industries just paid a common dividend, D0, of $1.70. It expects to grow at a constant rate of 3% per year. If investors require a 11% return on equity, what is the current price of Hubbard's common stock? Round your answer to the nearest cent. Do not round intermediate calculations.

Reference no: EM132066381

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