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Misty Mountain Tops (MMT) coal reserves are being depleted. MMTs annual dividend has been declining at a rate of 10% per year. If the dividend

Misty Mountain Tops (MMT) coal reserves are being depleted. MMTs annual dividend has been declining at a rate of 10% per year. If the dividend paid last week was $5 and your required return is 20%, what would you pay for a share of MMT stock?

$16.67

$20.00

$23.75

$15.00

$19.00

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