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Aspalela Corporation's current earnings per share is RM2.00. The company has decided to pay 40% of its earnings in the form of dividends and will

Aspalela Corporation's current earnings per share is RM2.00. The company has decided

to pay 40% of its earnings in the form of dividends and will continue to do so in the future. If the firm's shares expected to grow at 5% per year constantly, what will be the maximum price that an investor is willing to pay if he expects a return of 8% from the investment?

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