Question
Investors require a 10% return from Sommers, Inc. The company's return on equity is 16%, and expects to have an earnings per share of $6
Investors require a 10% return from Sommers, Inc. The company's return on equity is 16%, and expects to have an earnings per share of $6 next year. The company ususally plowback 60% of its earnings for future growth. What is the current value of Sommers' stock? (Do not round intermediate calculations.)
Price = ?
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The Financial System Financial Regulation And Central Bank Policy
Authors: Thomas F. Cargill
1st Edition
1107035678, 9781107035676
