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Last year, Big W Company reported earnings per share of $2.70 when its stock was selling for $40.50. If its earnings this year increase by

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Last year, Big W Company reported earnings per share of $2.70 when its stock was selling for $40.50. If its earnings this year increase by 10 percent and the P/E ratio remains constant, what will be the price of its stock? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Stock Price $ 50.00

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