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Bella Industries has traditionally paid an annual dividend with a steady growth rate of 2 % . Due to COVID, they are now in a

Bella Industries has traditionally paid an annual dividend with a steady growth rate of 2%. Due to COVID, they are now in a state of decline and must adjust downward their dividend. They just paid an annual dividend D0 of $4.77. They now expect to have growth indefinitely of -2.8% per year. They have a cost of capital of 10.9%. What do you estimate their current stock price to be?

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