Question: Propulsion Sciences' (PS) stock dividend has grown at 0.1 per year for as long as anyone can remember. Investors believe that a year from now

Propulsion Sciences' (PS) stock dividend has

grown at 0.1 per year for as long as anyone can remember. Investors believe that a year from now

the company will pay a dividend of $3 and that dividends will continue their 0.1 growth indefinitely. If the market price is on PS stock is 25 and it is under valued by $3 and the company pays $1 as

flotation cost.

what is the cost of the stock?

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