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Firm X projects an ROE of 14%, and it will maintain a plowback ratio of 0.45. its earnings this years will be $3.60 per share.

Firm X projects an ROE of 14%, and it will maintain a plowback ratio of 0.45. its earnings this years will be $3.60 per share. Investors expect 11% rate of return on the stock. what price do you expect Firm X shares to sell for in 2 years?

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