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Spencer Supplies' stock is currently selling for $30 a share. The firm is expected to earn $8.40 per share this year and to pay a

Spencer Supplies' stock is currently selling for $30 a share. The firm is expected to earn $8.40 per share this year and to pay a year-end dividend of $1.50.

investors require a 10% return, 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

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