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RNN Ltds earnings per share next year is expected to be $2.00 and the earnings are expected to grow at 5% p.a. for the foreseeable

RNN Ltds earnings per share next year is expected to be $2.00 and the earnings are expected to grow at 5% p.a. for the foreseeable future. Its required rate of return on equity has been estimated to be 8% p.a. The company has a policy of reinvesting 40% of its earnings. The present value of the company's growth opportunities is closest to:

Group of answer choices $15.00 $16.70. $41.70. $25.00.

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