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ABC Inc. just reported earnings of $20 million. It has a discount rate of 8% on its stock. Assume its retention ratio is 60%. The

ABC Inc. just reported earnings of $20 million. It has a discount rate of 8% on its stock. Assume its retention ratio is 60%. The company has 1.5 million shares outstanding. If earnings are expected to have a perpetual growth rate of 6%, calculate ABC Inc.s stock price today.

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