AFW Industries has 211 million shares outstanding and expects earnings at the end of this year of 5688 million AFW plans to pay out 61% of its earnings in total paying 37%as a dividend und using 24% to repurchase shares if AFW's earings are expected to grow by 7.5% per year and those payout rates romain constant determine AFW's share price ansaming an equity cost of capital of 11.6% The price per there will be ** Round to the neareut cont)