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Hosmer Enterprises expects to earn $4 per share next year. The firms ROE is 10% and its plowback ratio is 60%. If the firms market

Hosmer Enterprises expects to earn $4 per share next year. The firms ROE is 10% and its plowback ratio is 60%. If the firms market capitalization rate is 8%: Calculate the price if Hosmer Enterprises pays all of its earnings out as a dividend.

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