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You're valuing Horn of Plenty Mining, Inc.'s, stock in order to compare its value to its market price. You believe that the company will pay
You're valuing Horn of Plenty Mining, Inc.'s, stock in order to compare its value to its market price. You believe that the company will pay total dividends of $1.45 in 2015 and $1.56 in 2016. You also believe the company's stock price will be $35.80 at the end of 2016. If the appropriate discount rate is 12 percent, what's the value of Horn of Plenty Mining's stock? A. $39.22 B. $38.31 C. $36.87 D. $37.43
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