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"está" is from the verb "estar", conjugated in the 3rd person singular in the present, "Manolito está..." -the stress is on the last syllable on the -a, therefore, following the rules for accentuation in Spanish, it needs a written accent, because the word ends in a vowel.
I hope this clarified it.
It is the word is
it is the verb is
the accent is on the a because the stress is on the last syllable
Esta - this (feminine), Está - is (Estar)
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