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Bobs Mining Companys coal reserves are being depleted, so its sales are falling. Also, environmental costs increase each year, so its costs are rising. As

Bobs Mining Companys coal reserves are being depleted, so its sales are falling. Also, environmental costs increase each year, so its costs are rising. As a result, the companys earnings and dividends are declining at the constant rate of 3% per year. If D0 = $6 and rs = 13%, what is the estimated value of Bobs Mining stock?

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