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Frost Corporation's recent earnings per share were $12.90. Their dividend payout ratio is 20%. Earnings are expected to grow at an average of 6% per
Frost Corporation's recent earnings per share were $12.90. Their dividend payout ratio is 20%. Earnings are expected to grow at an average of 6% per year and the company's policy is to maintain the same payout ratio. If investors are requiring a 12% rate of return on this stock, what will they be willing to pay for one share?
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