The Textbook Production Company has been hit hard due to increased competition. The company's analysts predict that earnings (and dividends) will decline at a rate of 5% annually forever. Assume that Ks = 11% and Do = $2.00
What will the price of the company's stock be three years from now?
A) $27.17
B) $6.23
C) $28.50
D) $10.18
E) $20.63
D
Business
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