Environmental costs increase

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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 3% per year. If D0 = $3 and rs = 11%, what is the value of Brushy Mountain's stock? Round your answer to the nearest cent

Reference no: EM13722173

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