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Assume that the 10-year U.S. Treasury is yielding 1.95 percent. Famed market analyst Dr. Ed Yardeni is providing an estimate of next year's earnings for

image text in transcribed Assume that the 10-year U.S. Treasury is yielding 1.95 percent. Famed market analyst Dr. Ed Yardeni is providing an estimate of next year's earnings for the S\&P 500 of $105. Use the Fed model to calculate the implied value value of the S\&P 500. Do not round intermediate calculations. Round your answer rounded to zero decimal places

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