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Answer: 110.81 Problem 48.6 A company's earnings for the year just ended were $5 per share. They expect their earnings to increase at 10% per

image text in transcribedAnswer: 110.81

Problem 48.6 A company's earnings for the year just ended were $5 per share. They expect their earnings to increase at 10% per year. Once their earnings is $10 per share, they will payout 75% as a dividend. Dividends are paid annually at the end of the year. Calculate the value of the stock to yield 15%

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