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Procter and Gamble​ (PG) paid an annual dividend of $ 1.79 in 2009. You expect PG...

Procter and Gamble​ (PG) paid an annual dividend of $ 1.79 in 2009. You expect PG to increase its dividends by 7.3% per year for the next five years​ (through 2014), and thereafter by 3.4 % per year. If the appropriate equity cost of capital for Procter and Gamble is 8.5% per​ year, use the​ dividend-discount model to estimate its value per share at the end of 2009.

The price per share is______​$ (round to the nearest cent).

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