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12: Earnings per share is expected to be 2.60 next year with a growth rate of 3%. The company has a beta of 1.20 and

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12: Earnings per share is expected to be 2.60 next year with a growth rate of 3%. The company has a beta of 1.20 and it plans to retain 80% of its earnings. The risk-free rate is 2% and the market risk premium is 5%. Using the constant discount model, what is the value of the stock? - $41.60 - 52.00 - 26.00 - 10.40

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