The common shares of Bancorp Ltd . are forecast to pay annual dividends of $ 5 at
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Question:
The common shares of Bancorp Ltd are forecast to pay annual dividends of $ at the end of each of the next five years, followed by dividends of $ per year in perpetuity. What is the fair market value of the shares if the market requires a annually compounded rate of return on shares having a similar degree of risk? Round your answer to the nearest cent.
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