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Todd Mountain Development Corporation is expected to pay a dividend of $3 in the upcoming year. Dividends are expected to grow at the rate of

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Todd Mountain Development Corporation is expected to pay a dividend of $3 in the upcoming year. Dividends are expected to grow at the rate of 5% per year. The risk-free rate of return is 5%, and the expected return on the market portfolio is 15%. The stock of Todd Mountain Development Corporation has a beta of 1.2. Using the constant-growth DDM, the intrinsic value of the stock is 44.44 33.33 16.67 25

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