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eBook The following table gives Foust Company's earnings per share for the last 1 0 years. The common stock, 8 . 6 million shares outstanding,

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The following table gives Foust Company's earnings per share for the last 10 years. The common stock, 8.6 million shares outstanding, is now (1/1/22) selling for $75.00 per share. The expected dividend at the end of the current year (12/31/22) is 45% of the 2021 EPS. Because investors expect past trends to continue, 9 may be based on the historical earnings growth rate. (Note that 9 years of growth are reflected in the 10 years of data.)
\table[[Year,EPS,,Year,EPS],[2012,$3.90,,2017,$5.73
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