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Financial analysts forecast L Brands (LB) growth for the future to be 12.5 percent. LBs...

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Finance

Financial analysts forecast L Brands (LB) growth for the future to be 12.5 percent. LBs most recent annual dividend was $0.60. What is the fair present value of L Brandss stock if the required rate of return is 14.5 percent? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))

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