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The company has just announced the EPS for last year was $1.4. The company maintains a dividend payout ratio of 0.75. Assume the company's cost

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The company has just announced the EPS for last year was $1.4. The company maintains a dividend payout ratio of 0.75. Assume the company's cost of equity is 12%, and dividends are expected to grow at a rate of 4%. The company's Price Earning ratio is $ (Keep your answer to 2 decimal places)

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