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A company is expecting to have earnings next year, $3 per share. 50% of it will be retained perpetually. these retained earnings will be put

A company is expecting to have earnings next year, $3 per share. 50% of it will be retained perpetually. these retained earnings will be put into a new plan, with expected return of 30% per year. The equity cost of capital is 8%, what is the estimated price of stock?

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