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Question 16 Not yet answered Gross revenues of CTN Ltd last year were $8 million, and total costs were $3 million. CTN Ltd has 1 million shares of common stock outstanding. Gross revenues and costs are expected to grow at 4 percent per year. CTN Ltd pays no income taxes. The discount rate is 12 percent and all cash flows are received at year's end. Marked out of 1.00 Flag question Suppose all earnings are paid out as dividends. What is the price per share of CTN Ltd stock? Round your answer to the nearest whole number. Do not include the $ symbol in your answer. Answer: estion 17 ot yet swered arked out of 00 Gross revenues of CTN Ltd last year were $8 million, and total costs were $3 million. CTN Ltd has 1 million shares of common stock outstanding. Gross revenues and costs are expected to grow at 4 percent per year. CTN Ltd pays no income taxes. The discount rate is 12 percent and all cash flows are received at year's end. Suppose CTN Ltd has a new project, which requires an immediate investment of $15 million. In one year, another investment of $5 million will be needed. The year after that, earnings will increase by $8 million. That profit level will be maintained in perpetuity. What will be the share price if CTN Ltd undertakes this project? Round your answer to two decimal places. Do not include any symbols in your answer. Flag