Question: John is evaluating a stock that he believes will pay a dividend equal to $ 2 . 4 5 in exactly one year from today.

John is evaluating a stock that he believes will pay a dividend equal to $2.45 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 $51 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%?

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