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16. Batt's Industries had an EPS of $5.00 per share this year, pays a dividend of $2.20 per share and is expected to pay this

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16. Batt's Industries had an EPS of $5.00 per share this year, pays a dividend of $2.20 per share and is expected to pay this amount indefinitely. If Batt's equity cost of capital is 11%, calculate Batt's expected stock price. (1 mark)

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