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Question 2 of 5 2 Points Grand Bank is a mature bank, in stable growth. The bank is expected to report net income of $102
Question 2 of 5 2 Points Grand Bank is a mature bank, in stable growth. The bank is expected to report net income of $102 million and pay dividends of $86 million next year. If the book value of equity at the bank is $858 million, and the cost of equity is 9.2%, estimate the value of equity in the book today = $ 1387 millions. (You can assume that the ROE and retention ratio don't change) (Please enter your answer without any $ signs or millions/billions after. Thus, if your answer is $250 million, enter 250 in the box]
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