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A firm with no debt had $ 6 5 million last year. Investors require a 1 2 % return on their equity and free cash

A firm with no debt had $65 million last year. Investors require a 12% return on their equity and free cash flow is expected to increase by 5% each year. If the firm has 25 million shares outstanding, what is the expected value of the firm's share price?

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