Spencer Supplies' stock is currently selling for $60 a share. The firm is expected to earn $6.60 per share this year and to pay a year-end dividend of $1.80. If investors require a 11% return, what rate of growth must be expected for Spencer? Round your answer to the nearest whole number. % 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? (Hint: gL = ROE Retention ratio.) Do not round intermediate calculations. Round your answer to the nearest cent.

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