Question: Troy is interested in buying a particular stock whose current dividend per share is $ 1.75 . Troy estimates that the current dividend per share

Troy is interested in buying a particular stock whose current dividend per share is $1.75. Troy estimates that the current dividend per share will increase at a rate of 2.85% per year forever. If Troy's estimates are correct, what is the best estimate of the stock price per share if the required rate of return is 15.00%. $ Place your answer in dollars and cents. Do not place a dollar sign or comma in your answer.

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