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A firm has a 20% return on equity. It implements a payout policy of 60%, and has a book value of equity of $11.15 per

A firm has a 20% return on equity. It implements a payout policy of 60%, and has a book value of equity of $11.15 per share. Assuming the required rate of return is 12%, find the PVGO (if any) of this firm's stock.

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