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If EPS ( Earnings Per Share ) = $ 3 and the PE ( Price To Earnings ) ratio = 5 times, what is the

If EPS

(

Earnings Per Share

) =

3

and the PE

(

Price To Earnings

)

ratio

= 5

times, what is the appropriate price of the stock when dividends are expected to grow

8 %

for the next

5

years?

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