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A stock will generate earnings of $2 per share this year. The discount rate for the stock is 10%, and the rate of return on

A stock will generate earnings of $2 per share this year. The discount rate for the stock is 10%, and the rate of return on reinvested earnings is 15%. What is the present value of growth opportunities for each reinvestment rate?

Reinvestment of earnings: 0%, 50%, 60%.

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