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What is the price of the stock

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Pharsalus Inc. just paid a dividend (i.e., D0) of $ 2.26 per share. This dividend is expected to grow at a rate of 2.3 percent per year forever. The appropriate discount rate for Pharsalus's stock is 9.7 percent. What is the price of the stock? (Round your answer to 2 decimal places and record your answer without dollar sign or commas).

Reference no: EM132692924

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