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Royals Inc. is expected to have EPS (Earnings per Share) of $6.00 next year. Assume investors expect them to earn an 8% required return on

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Royals Inc. is expected to have EPS (Earnings per Share) of $6.00 next year. Assume investors expect them to earn an 8% required return on equity and they have no debt. If Royals Inc. always maintains a retention rate of 20% and can earn 10% on new investments forever, what is the current stock price of Royals Inc? Round you answer to the nearest dollar

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