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Universal Air is a no-growth firm and has 2 million shares outstanding. It expects to earn a constant $23 million per year on its assets.

image text in transcribed Universal Air is a no-growth firm and has 2 million shares outstanding. It expects to earn a constant $23 million per year on its assets. It has no debt; all earnings are paid out as dividends. The cost of capital is 10 percent. Calculate the current price per share of the stock. Multiple Choice $230.00 $172.50 $115.00 $57.50

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