=+6 (Examination level) The current share price of Blueberry ple is 205p. It recently reported earnings per

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=+6" (Examination level) The current share price of Blueberry ple is 205p. It recently reported earnings per share of 14p and has a policy of paying out 50 per cent of earn-

ings in dividends each year. The earnings history of the firm is as follows:

Last reported 14p One year ago 13p Two years ago 12p Three years ago 11p Four years ago 10g Five years ago 9p

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