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For a firm with a very recently reported EPS of $2.20, you have estimated that earnings will grow by 8 percent and you have estimated

For a firm with a very recently reported EPS of $2.20, you have estimated that earnings will grow by 8 percent and you have estimated the appropriate P-E (price to expected earnings) ratio to be 17. What should the value of this share be?

The answer is $40.39

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