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Also, because its pit is getting deeper each year, its costs are rising. As a result, the company's earnings and dividends are declining at the

image text in transcribed Also, because its pit is getting deeper each year, its costs are rising. As a result, the company's earnings and dividends are declining at the constant rate of 5% per year. If D0=$3 and rs=11%, what is the value of Martell Mining's stock? Round your answer to two decimal places. $ Also, because its pit is getting deeper each year, its costs are rising. As a result, the company's earnings and dividends are declining at the constant rate of 5% per year. If D0=$3 and rs=11%, what is the value of Martell Mining's stock? Round your answer to two decimal places. $

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