Business
Business, 06.04.2020 20:18, sawyerharper

Rite Bite Enterprises sells toothpicks. Gross revenues last year were $8.3 million, and total costs were $4.2 million. Rite Bite has 1.5 million shares of common stock outstanding. Gross revenues and costs are expected to grow at 4 percent per year. Rite Bite pays no income taxes. All earnings are paid out as dividends.
If the discount rate is 15%, and all cash flows are received at year's end, what is the price per share of Rite Bite stock? Do not round intermediate calculations and round your answers to 2 decimal places. e. g., 32.16.

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Answers: 3

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Rite Bite Enterprises sells toothpicks. Gross revenues last year were $8.3 million, and total costs...

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