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Ganbare Inc. will experience a growth rate of 16% for the first 5 years, 10% for the next 4 years, and then 4% per year

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Ganbare Inc. will experience a growth rate of 16% for the first 5 years, 10% for the next 4 years, and then 4% per year forever. The most recent earnings per share (EPS) was $4.00 and the firm's plowback ratio is 60%. Using a discount rate of 6%, calculate the price of Ganbare share at the end of year 4

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