Martell Mining Companys ore reserves are being depleted, so its sales are falling. Also, its pit is

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Martell Mining Company’s ore reserves are being depleted, so its sales are falling. Also, its pit is getting deeper each year, so its costs are rising. As a result, the company’s earnings and dividends are declining at the constant rate of 5 percent per year. If D0 = $5 and rs = 15%, what is the value of Martell Mining’s stock?

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