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Assuming a company has the following information: Current book value per share equals $ 2 2 . 0 0 . For the next three years,

Assuming a company has the following information:
Current book value per share equals $22.00.
For the next three years, EPS is expected to be $6.50, $8.00, and $10.50, respectively.
Dividends for the next three years are expected to be $3.50, $5.00, and $12.50 respectively.
The Year 3 dividend is expected to be a liquidating dividend, i.e., the company is anticipated to cease its operations at the end of Year 3 and distribute its entire book value in a dividend.
The required rate of return on equity of 9%.
Its intrinsic value would be closest to:

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