ART has come out with a new and improved product. As a result, the firm projects an ROE of 30%, and it will maintain a plowback ratio of 0.30. Its earnings this year will be $2.0 per share. Investors expect a 13% rate of return on the stock. What price do you expect ART shares to sell for in 4 years? rev: 04_06_2020_QC_CS-206931 Multiple Choice

$49.41

$84.18

$45.33

$51.41