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.

Price per share - $25.84 per unit

Explanation:

According to the dividend valuation model the value of a share is the present value of he expected future dividend discounted at the required rate of return.

Value of company = (Earnings × (1+r))/r-g) × 100

Earnings (Dividends) = Gross revenue - total costs

Dividend = $8.3 - $4.2 = $4.1

Value of a firm - Dividend (1+g)/(r-g)

r- discount rate - 15%, g- 4%

Value of a company = 4.1 ×(1.04)/0.15-0.04

              = $38.76 million

Price per share = Value of firm / number of shares

                  =$38.76 million/1.5  million units

                   = $25.84 per unit

the correct answer is:

it required the president to inform congress within forty-eight hours of any new troop commitment.

the war powers resolution (1973) is a federal law designed to limit the u.s. president’s ability to initiate or intensify military actions abroad without the approval of the congress.

it establishes that the president can send armed forces into action abroad only by declaration of war by congress, statutory authorization, or in case of a national emergency created by attack upon the united states, its territories or possessions, or its armed forces.

it requires the president to notify congress within 48 hours of sending armed forces to military action.

i would have to say its c