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Bills Bakery has current earnings per share of $2.42. Current book value is $4.20 per share. The appropriate discount rate for Bills Bakery is 16

Bills Bakery has current earnings per share of $2.42. Current book value is $4.20 per share. The appropriate discount rate for Bills Bakery is 16 percent. Calculate the share price for Bills Bakery if earnings grow at 4.2 percent forever.

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