New Age Electronics expects to earn $100,000 this year. Earnings will grow 3% indefinitely if the firm makes no new investments. The firms discount rate is 10%, and 250,000 shares are outstanding. What is the price per share of stock (to two decimals) without the new line, assuming that all of the earnings are paid out as dividends? Do not use dollar sign.

Answer rating: 100% (QA)

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