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Boomer Products, Inc. manufactures no-inhale cigarettes. As their target customers age and pass on, sales of the product are expected to decline. Thus, demographics suggest

Boomer Products, Inc. manufactures no-inhale cigarettes. As their target customers age and pass on, sales of the product are expected to decline. Thus, demographics suggest that earnings and dividends will decline at a rate of 5% annually forever. The firm just paid a dividend of $4; given a required rate of return is 10%, the price of the stock in 2 years will be:

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