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DFB , Inc., expects earnings at the end of this year of $ 4 . 0 4 per share, and it plans to pay a

DFB, Inc., expects earnings at the end of this year of $ 4.04 per share, and it plans to pay a $ 2.37 dividend at that time. DFB will retain $ 1.67 per share of its earnings to reinvest in new projects with an expected return of 15.6% per year. Suppose DFB will maintain the same dividend payout rate, retention rate, and return on new investments in the future and will not change its number of outstanding shares.

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