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The Kelly Co. has been hit hard by increased competition. The company's analysts predict that earnings (and dividends) will decline at a rate of 4%
The Kelly Co. has been hit hard by increased competition. The company's analysts predict that earnings (and dividends) will decline at a rate of 4% annually forever. Assume that rs = 7.25% and D0 = $1.00/ What will be the price of the company's stock three years from now? Show explanation
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