Question: please answer asap will upvote! A common stock is expected to pay an annual dividend per share of $1.2. The market capitalization rate is 8.5%.

please answer asap will upvote!

A common stock is expected to pay an annual dividend per share of $1.2. The market capitalization rate is 8.5%. If the annual dividend is expected to grow 4% per year indefinitely, what is the value of the stock? Round your answer to two decimal places

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