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Harvey Gorman expects earnings of $93.0 million at the end of the year (at t=1) and to pay dividends of $38.0 million and buy back

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Harvey Gorman expects earnings of $93.0 million at the end of the year (at t=1) and to pay dividends of $38.0 million and buy back shares worth $11.6 million. For the following 18 years, earnings should grow at 16.2% annually (until t =19), after which should grow at 3.5% for a long time. If the firm's cost of equity capital is 13.2% and the dividend and repurchase rates are expected to stay unchanged, what is the total market value of the Harvey Gorman's equity

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