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Use the following information for the next two questions. The book value per share for J&J Inc. was $4.72 at the end of 2019, and

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Use the following information for the next two questions. The book value per share for J&J Inc. was $4.72 at the end of 2019, and is expected to earn an EPS of $18 in 2020. Question 2 (10 points) Jame's required return for investing in the share of this firm is 25%, what is the expected earnings growth rate for residual earnings after 2020 that is implied by a market price of $118? 20.02% 8.94% 10.15% 15.28%

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