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AFW industries has 208 million shares outstanding and expects eamings at the end of this year of $710 million. AFW plans to pay out 62%
AFW industries has 208 million shares outstanding and expects eamings at the end of this year of $710 million. AFW plans to pay out 62% of its earnings in totel, paying 38% as a dividend and using 24% to repurchase shares. If AFW/s earnings are oxpoctod to grow by 7.8% por yoar and these payout rates remain constant, determine AFW's share price assuming an equity cost of capital of 12.5%. The price per share will be $ (Round to the nearest cent)
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