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Bob s Rawhide Company has a dividend payout ratio of 4 5 % . Next year it will earn $ 0 . 7 5 per

Bob

s Rawhide Company has a dividend payout ratio of

45 % .

Next year it will earn $

0.75

per share and have a return on equity of

12 % .

The shareholders

required return is

8 % .

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