Question: Precision Engineering recently announced that its next annual dividend will be $2.17 per share with later dividends increasing by 5.5 percent annually. What is the

Precision Engineering recently announced that its next annual dividend will be $2.17 per share with later dividends increasing by 5.5 percent annually. What is the current value of this stock to you if you require a 11 percent rate of return? (round up your answer to two decimal places)

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