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Speaker City Inc. is a national chain of electronics stores specializing in audio and home theatre equipment. The company has just reported EPS of $2.55

Speaker City Inc. is a national chain of electronics stores specializing in audio and home theatre equipment. The company has just reported EPS of $2.55 and expects to maintain a 35% payout ratio. Speaker City's shareholders require a 6% return on their shares and dividends are expected to grow at 4%. What is the Upper P divided by Upper E constant for Speaker City?

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