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Brushy Mountain Mining Company's coal reserves are being depleted, so its sales are falling. Also, environmental costs increase each year, so its costs are rising. As a result, the company's earnings and dividends are declining at the constant rate of 8% per year. If D0 = $2 and rs = 9%, what is the estimated value of Brushy Mountain's stock? Round your answer to the nearest cent.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92070514

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