AFW industries has 193 million shares autstanding and expects eamings at the ead of this yeat of $720 mellion. AFW plans to pay out 55% of tits earnings in total paying 31% as a dividend and using 24% to repurchase shares. It AFWs earnings are expected to grow by 77% pet year and thate payout rates remain constant, determina AfW's share price assuming an equily cost ol capiat of 118 \%