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Angel recently purchased a block of 100 shares of Hayley's Optical common stock for $6, 000. The stock is expected to provide an annual cash

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Angel recently purchased a block of 100 shares of Hayley's Optical common stock for $6, 000. The stock is expected to provide an annual cash flow of dividends of $400 indefinitely. Assuming a discount rate of 8 percent, how does the price Angle paid compare to the value of the stock

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