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NoGrowth Industries presently pays an annual dividend of $1.00 per share and it is expected that these dividend payments will continue indefinitely. If NoGrowth's equity

NoGrowth Industries presently pays an annual dividend of

$1.00

per share and it is expected that these dividend payments will continue indefinitely. If NoGrowth's equity cost of capital is

10%,

then the value of a share of NoGrowth's stock is closest to:

$11.00

$12.00

$8.00

D. $10.00

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