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ART has come out with a new and improved product. As a result, the firm projects an ROE of 25%, and it will maintain a

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ART has come out with a new and improved product. As a result, the firm projects an ROE of 25%, and it will maintain a plowback ratio of 0.20. Its earnings this year will be $3 per share Investors expect a 12% rate of return on the stock. At what P/E ratlo would you expect ART to sell? Multiple Choice 11.43 15.25 14 29

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