A mutual insurance company is a(n):
a. organized group with similar interests.
b. incorporated entity, without private ownership interest, operating for the benefit of its policyholders and beneficiaries.
c. stock company organized to earn profits for its stockholders.
d. company where policyholders participate in the earnings of a society.
b
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When does a patent enter the public domain?
A. when the patent term expires B. when the patent has been challenged in court and found to be an infringement C. when the government deems that the practical purpose of the invention is universally applicable and cannot be controlled by one individual or a group of people D. when the invention is either obvious or not a novel one
To help them estimate the company's cost of capital, Smithco has hired you as a consultant. You have been provided with the following data: D1 = $1.45; P0 = $22.50; and gL = 6.50% (constant). Based on the dividend growth approach, what is the cost of common from reinvested earnings?
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