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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

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 20. Its earnings this year will be $3 per share. Investors expect a 12% rate of return on the stock. What price do you expect ART shares to sell for in 4 years? $39.76 $41.68 $44.95 $53.96

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