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A company has a rate of return on new projects of 16.5%. The company will plow back 70% of all earnings into the firm. Earnings 1 year from now are expected to be $3.1 and investors require are return of 12% to invest in this stock. What is the price of the stock today? Keep 4 decimals in your growth rate (for example, 10.12%), and then round the answer to 2 decimal places, for example 100.12.

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Financial Management, Finance

Category:- Financial Management
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