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8. Next year's earnings are estimated to be $3. The company plans to reinvest 25% of its earnings at 20%. If the cost of equity

8. Next year's earnings are estimated to be $3. The company plans to reinvest 25% of its earnings at 20%. If the cost of equity Is 9%, what is the present value of growth opportunities? $23.92 O $21.92 $9.09 O $22.92

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