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Justin Cement Company has had the following pattern of earnings per share over the last five years: The earnings per share have grown at a

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Justin Cement Company has had the following pattern of earnings per share over the last five years: The earnings per share have grown at a constant rate (on a rounded basis) and will continue to do so in the future. Dividends represent 40 percent of earnings. Note: Round the growth rate to the nearest whole percent. Do not round any other intermediate calculations. Round your answers to 2 decimal ploces. Note: Round the growth rate to the nearest whole percent. Do not round any other intermediate calculations. Round your answers to 2 decimal places. b. If the required rate of return (Ke) is 13 percent, what is the anticipated stock price (P0) at the beginning of 206 ? Note: Round the growth rate to the nearest whole percent. Do not round any other intermediate calculations. Round your onswer to 2 decimal places

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