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Value of Growth Opportunities A firm has projected annual earnings per share of $4.90 and a dividend payout ratio of 65%. The firm's required return

Value of Growth Opportunities A firm has projected annual earnings per share of $4.90 and a dividend payout ratio of 65%. The firm's required return is 16% and dividends and earnings are expected to grow at 2% per year indefinitely. For this firm the present value of its growth opportunities is ________.

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