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A company currently retains 66% of its earnings its earnings of a share this year. Assume the company's ROE is 15% and the required rate

A company currently retains 66% of its earnings its earnings of a share this year. Assume the company's ROE is 15% and the required rate of return is 15%. Calculate the forward P/E ratio of the company if the company is growing at a long-run sustainable pace.

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