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Based on analysis of company and expected industry and economic conditions natural industries is expected to earn $4.80 per share of common stock next year.

Based on analysis of company and expected industry and economic conditions natural industries is expected to earn $4.80 per share of common stock next year. The company has a policy of consistently paying 100% of its earnings in dividend. Investors holding natural shares expect to earn 12% and expect a dividend growth rate of 9%. 


What would you expect today's price of its shares?

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