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Music Inc. reinvests 55% of its earnings. The remaining part is paid out as dividends. The consensus earnings-per-share forecast among analysts for the next year

Music Inc. reinvests 55% of its earnings. The remaining part is paid out as dividends. The consensus earnings-per-share forecast among analysts for the next year is $8.55, the ROE of the company remains stable at 14%, and its required rate of return is 13%. 


What is the fair value of the stock price of Music Inc.?

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