Assume that Manchester plc. has earnings per share (EPS) of 1.89, it has 750,000 common shares outstanding and it just paid a dividend of 0.65 per share. Additionally, the firm generated income of 1,417,500 and it has book value of common equity of 6,000,000. You believe that the firm is in a constant state of growth and your required rate of return for investments with similar risk is 18%. The firm's share is currently trading at 45 per share.

Based on this information and assuming that the Return on Equity will remain the same for new investments financed from retained earnings, would you be willing to purchase shares in Manchester plc.? Explain your answer.