Eth is evaluating HRL Co. which has been growing at the annual rate of 15% for the
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Question:
After considerable study, she has decided to use the following information in her valuation (as of the end of 2004):
Beta: 1.2.
2004 dividend: $5.
The risk-free rate: 4%.
Expected equity premium: 6%.
What is the value of the HRL's stock?
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