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The board of directors of ABC, Inc. has declared $5.00 common stock dividend, payable one year from today, and accepted a plan to freeze the

The board of directors of ABC, Inc. has declared $5.00 common stock dividend, payable one year from today, and accepted a plan to freeze the dividend at $5 per year indefinitely. What is the value of the ABC's common stock if the required rate of interest is 15 percent?

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