Question: John is evaluating a stock that he believes will pay a dividend equal to $ 1.50 in exactly one year from today. Further, John expects

John is evaluating a stock that he believes will pay a dividend equal to $1.50 in exactly one year from today. Further, John expects that in addition to the dividend he will be able to sell the stock for the amount $50 per share also one year from today. Using this information, what is the stock's price today if the required rate of return on the stock is 13.00%? $ Place your answer in dollars and cents without a dollar sign.

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