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CX Enterprises has the following expected​ dividends: $ 1.07 in one​ year, $ 1.15 in two​...

CX Enterprises has the following expected​ dividends: $ 1.07 in one​ year, $ 1.15 in two​ years, and $ 1.31 in three years. After​ that, its dividends are expected to grow at 3.6 % per year forever​ (so that year​ 4's dividend will be 3.6 % more than $ 1.31 and so​ on). If​ CX's equity cost of capital is 11.8 % ​, what is the current price of its​ stock?

The price of the stock will be _________?​(Round to the nearest​ cent.)

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