What should the current stock price of must vote

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Vote, Vote, Vote Your Voice, Inc.'s major competitor, Must Vote, Inc., has been in the business for quite some time. Its net income last year was $1.3 million, and it has 500,000 shares outstanding. It is estimated that Must Vote, Inc. is a mature firm a nd is growing at a constant rate of 3.0%. It has no debt and all income is paid out as dividends to its shareholders. Assuming a 13% cost of capital, what should the current stock price of Must Vote, Inc. be?

Reference no: EM132818342

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