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the answer is not 62.50 for the market price! I need the correct answer Assuming Cullumber Corp. has an ROE of 8% and investors require

the answer is not 62.50 for the market price! I need the correct answer image text in transcribed

Assuming Cullumber Corp. has an ROE of 8% and investors require a 7% return on shares, estimate the firm's P/E ratio and market price given an EPS of $2.50 and a 25% payout ratio. (Round answers to 2 decimal places, e.g. 5.25.)

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