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IYour investment adviser has sent you three analyst reports for a young growing company named Vegas Chips, [ncorporated These reports depict the company as speculative,

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IYour investment adviser has sent you three analyst reports for a young growing company named Vegas Chips, [ncorporated These reports depict the company as speculative, but each one poses different projections of the company's future gromh rate in earnings and dividends. All three reports shovl.r that Vegas Chips earned $l .ED per share in the year ended previously. There is consensus that a fair rate of retum to investors for this common dock is 14 percent, and that management expects to consistently earn a 15 percent return on the book value of equity (RIDE = 15 percent}

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