Crane Corp. paid a dividend of $2.36 yesterday. The company's dividend is expected to grow at...

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Crane Corp. paid a dividend of $2.36 yesterday. The company's dividend is expected to grow at a steady rate of 5 percent for the foreseeable future. If investors in stocks of companies like Crane require a rate of return of 17 percent, what should be the market price of Crane stock? (Round dividend and final answer to 2 decimal places, e.g. 15.25.) Market price $ Crane Corp. paid a dividend of $2.36 yesterday. The company's dividend is expected to grow at a steady rate of 5 percent for the foreseeable future. If investors in stocks of companies like Crane require a rate of return of 17 percent, what should be the market price of Crane stock? (Round dividend and final answer to 2 decimal places, e.g. 15.25.) Market price $