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The CFO considers issuing additional common share for fund raising. The common share has $40 par value per share and the expected dividend yield is

The CFO considers issuing additional common share for fund raising. The common share has $40 par value per share and the expected dividend yield is 6% per annum. The CFO assumes the company earnings will grow at 3% p.a. constantly. What is the expected price of the common share if the discount rate is also 10% per annum?

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