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Laurel Enterprises expects earnings next year of $1.49. Its equity cost of capital is 11.7%, which is also expected return on new investment. Its earnings

Laurel Enterprises expects earnings next year of $1.49. Its equity cost of capital is 11.7%, which is also expected return on new investment. Its earnings are expected to grow forever at a rate of 6.7% per year. Find the current price per share.

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