Use the information for the question(s)below.
The JRN Corporation will pay a constant dividend of $3 per share,per year,in perpetuity.Assume that all investors pay a 20% tax on dividends and that there is no capital gains tax.The cost of capital for investing in JRN stock is 12%.
-The price of a share of JRN's stock is closest to:
A)$20.00.
B)$24.00.
C)$25.00.
D)$18.00.

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The Answer of Use the information for the question(s)below.
The JRN Corporation will pay a constant dividend of $3 per share,per year,in perpetuity.Assume that all investors pay a 20% tax on dividends and that there is no capital gains tax.The cost of capital for investing in JRN stock is 12%.
-The price of a share of JRN's stock is closest to:
A)$20.00.
B)$24.00.
C)$25.00.
D)$18.00.

Use the Information for the Question(s)below