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Stagnant Iron and Steel currently pays a $6.45 annual cash dividend (D0). They plan to maintain the dividend at this lev...

Stagnant Iron and Steel currently pays a $6.45 annual cash dividend (D0). They plan to maintain the dividend at this level for the foreseeable future as no future growth is anticipated.
  
If the required rate of return by common stockholders (Ke) is 21 percent, what is the price of the common stock?

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Constant dividend per share, D = $6.45 Per share There is no growth rate in dividend amount and same dividend amount should b

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