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Blake Corp. expects an earnings per share of $1.27 and reinvests 35% of its earnings. Management projects a rate of return of 12% on new

Blake Corp. expects an earnings per share of $1.27 and reinvests 35% of its earnings. Management projects a rate of return of 12% on new projects and investors expect a 10% rate of return on the stock.

Given that the price of the stock with growth is $14.23, what is the present value of growth opportunities (PVGO)?

Enter your response below rounded to 2 DECIMAL PLACES.

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