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Bills Bakery expects earnings per share of $2.26 next year. Current book value is $4 per share. The appropriate discount rate for Bills Bakery is

Bills Bakery expects earnings per share of $2.26 next year. Current book value is $4 per share. The appropriate discount rate for Bills Bakery is 14 percent. Calculate the share price for Bills Bakery if earnings grow at 3.2 percent forever. (Round your answer to 2 decimal places. Omit the "$" sign in your response.)

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