If d05 and r9 what is the value of martell minings


Martell Mining Co. ore reserves are being depleted, so its sales are falling. Also, because its pit is getting deeper each year, its costs are rising. As a result, the companies earnings and dividends are also declining at the constant rate of 8% per year. If D0=5 and r=9%, what is the value of Martell Minings stock?

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