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Question 3 4 pts Even Better Products has come out with a new and improved product. As a result, the firm projects an ROE of

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Question 3 4 pts Even Better Products has come out with a new and improved product. As a result, the firm projects an ROE of 20%, and it will maintain a plowback ratio of 0.30. Its projected earnings are $3 per share. Investors expect a 13% rate of return on the stock. What is the present value of growth opportunities? (Do not round intermediate calculations. Round your answers to 2 decimal places.)

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