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Bills Bakery has current earnings per share of $3.14. Current book value is $5.10 per share. The appropriate discount rate for Bills Bakery is 13

Bills Bakery has current earnings per share of $3.14. Current book value is $5.10 per share. The appropriate discount rate for Bills Bakery is 13 percent. Calculate the share price for Bills Bakery if earnings grow at 4.8 percent forever. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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