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The book value of equity of a company in 2 0 1 9 is 3 0 0 million euro. If the ROE is 1 5

The book value of equity of a company in 2019 is 300 million euro. If the ROE is 15% and the
payout ratio is 40%, both expected to remain constant for 5 years, what is the book value of
equity in 2020?
a.327 million euro
b.345 million euro
c.318 million euro
d. None of the above
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