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Forde's silver reserves are being depleted, so its sales are falling. Also, because its pit is getting deeper each year, its costs are rising. As

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Forde's silver reserves are being depleted, so its sales are falling. 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 the current dividend is $6 per share and the investor's required rate of return is 13%, what is the value of Forde's stock? BIVA-A- IEE 331 x , EE - VTT 12pt Paragraph 1

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