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Mountain Industries' earnings this year are expected to be $4.45 per share. Your required rate of return is 11.5% and the firm pays no dividends.

Mountain Industries' earnings this year are expected to be $4.45 per share. Your required rate of return is 11.5% and the firm pays no dividends. Competitors in the industry sell at an average P/E ratio of 15, but Mountain Industries is projected to grow its earnings faster than its competitors and do you believe a P/E ratio of 17 is appropriate? Which is your estimate of Mountain's value? please explain step by step.

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