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Bill's Bakery has current earnings per share of $2.98. Current book value is $4.90 per share. The appropriate discount rate for Bill's Bakery is 11

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Bill's Bakery has current earnings per share of $2.98. Current book value is $4.90 per share. The appropriate discount rate for Bill's Bakery is 11 percent. Calculate the share price for Bill's Bakery if earnings grow at 3.8 percent forever. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Share price

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