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Bills Bakery expects earnings per share of $3.46 next year. Current book value is $5.50 per share. The appropriate discount rate for Bills Bakery is

Bills Bakery expects earnings per share of $3.46 next year. Current book value is $5.50 per share. The appropriate discount rate for Bills Bakery is 11 percent. Calculate the share price for Bills Bakery if earnings grow at 4.20 percent forever.

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