Question: Question 6 1 pts Consider a stock X, which just paid out a dividend of $2. Further, assume a constant growth rate of 4% forever.

Question 6 1 pts Consider a stock X, which just paid out a dividend of $2. Further, assume a constant growth rate of 4% forever. If you are an investor with a required rate of return being 7% per year (use it as a nominal rate), how much would you be willing to pay for stock X now? (keep two decimals; don't use thousands separator; don't use dollar sign)

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