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Justin Cement Company has had the following pattern of earnings per share over the last five years: Year Earnings Per Share 20X1 $ 9.00 20X2
Justin Cement Company has had the following pattern of earnings per share over the last five years: Year Earnings Per Share 20X1 $ 9.00 20X2 9.54 20X3 10.11 20X4 10.72 20X5 11.32 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. a. Project earnings and dividends for the next year (20X6). (Round the growth rate to the nearest whole percent.
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