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A firm reinvests 6 0 % of its earnings in projects with ROE of 1 5 % . The market capitalization rate is 1 0

A firm reinvests

60 %

of its earnings in projects with ROE of

15 % .

The market capitalization rate is

10 % .

The expected year end dividend is $

2

per share, paid out of earnings of $

5

Per share.

What is PVGO?

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