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Question 7 4 pts Spencer Supplies' stock is currently selling for $30 a share. The firm is expected to report earnings of $8.40 per share

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Question 7 4 pts Spencer Supplies' stock is currently selling for $30 a share. The firm is expected to report earnings of $8.40 per share this year and to pay a year-end dividend of $1.50. Investors require a 10% return and dividends are expected to grow at a constant rate. If Spencer reinvests earnings in projects with average returns equal to the stock's expected rate of return, then what will be next year's EPS? $9.23 O $9.42 $8.82 O $8.36 O $8.60

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