(similar to) AFW Industries has 188 million shares outstanding and expects earnings at the end of this year of $737 million. AFW plans to pay out 59% of its earnings in total, paying 37% as a dividend and using 22% to repurchase shares. If AFW's earnings are expected to grow by 7.7% per year and these payout rates remain constant, determine AFW's share price assuming an equity cost of capital of 12.9% The price per share will be $ . (Round to the nearest cent.) complete) HW Score: 77.78%, 7 of 9 XP 7-20 (similar to) Assume Highline Company has just paid an annual dividend of $1.04. Analysts are predicting an 11.4% per year growth rate in earnings ov the next five years. After then, Highline's earnings are expected to grow at the current industry average of 5.5% per year. If Highline's equity cost of capital is 8.7% per year and its dividend payout ratio remains constant, for what price does the dividend-discount model predict Highline stock should sell? The value of Highline's stock is $. (Round to the naamet pont