Better Mousetraps has come out with an improved product, and the world is beating a...
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Better Mousetraps has come out with an improved product, and the world is beating a path to its door. As a result, the firm projects growth of 25% per year for 3 years. By then, other firms will have copycat technology, competition will drive down profit margins, and the growth rate will fall to 5% thereafter. The most recent annual dividend was $1.00 per share, and the discount rate is 15%. What is the price of the firm's stock today? 00000 $17.04 $12.54 $15.28 $15.68 $14.15
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