Suppose you invest a in stock that is expected to have an earnings per share of $4.00 at the end of the year. The company plans to retain 65% of its earnings every year and the earnings are expected to grow at a constant rate. The CEO of the company recently stated that new equity investments made by the company are expected to earn a return of 10%. If your required rate of return on this stock is 12%, what is the maximum price that you would be willing to pay for one share? $72.73 $27.11 7 $77.45 $25.45