calculate the company's value per share using the Residual Earnings approach.

• In the current year (Year 0), the company reported EPS of $6
• Earnings areexpected to grow at 6% per year for the next 5 years and Residual Earnings are expected to grow at 3%beyond that.
• Dividends per share are typically 20% of EPS
• Book Value per share at Year 0 is $25
• The company's Required Rate of Return is 9%